Term
Ordinary least squares estimator 

Definition
always minimizes the sum of squared residuals 


Term

Definition
measured as ratio of the sum of the squared deviations of the estimated values of the dependent variable to the mean ("total" variation) 


Term
Why are most estimators adopted in econo? 

Definition
Their sampling distributions have "good" properties 


Term
what makes an unbiased estimator 

Definition
if the mean value, after repeated sampling, of its estimation of the desired parameter equals that parameter 


Term
whenever one can, usually a large # of other unbiased estimators can be found Which is the best unbiased estimator 

Definition
the unbiased estimator whose sampling distribution has the smallest variance 


Term
what does 'EB*' represent 

Definition
the expected value of estimator, the of the estimator's sampling distribution 


Term
what is weighted square criterion 

Definition
pg 16 Kennedy's guide to economet 

