Term
| Ordinary least squares estimator |
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Definition
| always minimizes the sum of squared residuals |
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Term
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Definition
| measured as ratio of the sum of the squared deviations of the estimated values of the dependent variable to the mean ("total" variation) |
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Term
| Why are most estimators adopted in econo? |
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Definition
| Their sampling distributions have "good" properties |
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Term
| what makes an unbiased estimator |
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Definition
| if the mean value, after repeated sampling, of its estimation of the desired parameter equals that parameter |
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Term
| whenever one can, usually a large # of other unbiased estimators can be found Which is the best unbiased estimator |
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Definition
| the unbiased estimator whose sampling distribution has the smallest variance |
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Term
| what does 'EB*' represent |
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Definition
| the expected value of estimator, the of the estimator's sampling distribution |
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Term
| what is weighted square criterion |
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Definition
| pg 16 Kennedy's guide to economet |
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