SMG QM 222 Midterm: QM 222 Midterm-with-answers 2016
Document Summary
Note that the omitted variable bias questions here have answers in italics. Section 1 your regression: answer the following questions regarding the regressions that you have brought with you or the regressions that professor kahn gives to you, be sure to put your name on the page with your regression. When you complete the test, i will staple your regression sheet to your test. If you use your own regression, make sure all variables are defined (including your y variable) on the sheet with your regressions or in your answers below. Answer these questions based on your simple (1 variable) regression: what does each observation in the data set represent? (in a few words at most) A surveyed person: use the value of the coefficient on your variable in a sentence that explains what it tells us. In other words, interpret this coefficient. (do not use statistics terms in your answer.
