Email: bbcnoun@gmail.com Whatsapp/Telegram: 08131667008 ECO355 Question: The study of the components of TSS is known as Answer: the analysis of variance Question: Which of the following regression software package is used in conducting estimation analysis on economic-equations and models. Answer: All of the options Question: What is the Interpretation of 95% confidence interval? Answer: In the long run, in 95 out of 100 cases intervals will contain the true parameter, Î2. Question: Given Y = 100 + 5.00X, predict Y if X = 15 Answer: 175 Question: The equation î”Unemployment = 0.52 + 0.23Growth, shows that Answer: That a one percent increase in growth will bring about an increase of 0.23 points in unemployment rate Question: The p-value is defined as Answer: the lowest significance level at which a null hypothesis can be rejected. Question: ranges from 0 to 1. Answer: Coefficient of determination Question: What is the justification for the use of ordinary least squares (OLS)? Answer: Because it provides the best linear unbiased estimators Question: What is Type I Error? Answer: A type I error consists of rejecting the null hypothesis when it is actually true. Question: Which of the following is true about the sources of derivation in parameter model estimation? Answer: All of the options Question: What is the economic interpretation of R2=0.70? Answer: This implies that the explanatory variable(s) can only account for 70% variation in dependent variable Question: The basic tool for econometrics analysis is Answer: The linear regression model Email: bbcnoun@gmail.com Whatsapp/Telegram: 08131667008