By Dimitrios Asteriou
This new econometrics textual content offers particularly with using econometric software program. The textual content takes the reader from a few of the sorts of econometric facts (time sequence, move sectional and panel), via their formatting in digital media (eg ASCII) to their move to and use in regular software program packages--Excel, Microfit and Eviews. such a lot economics levels now require scholars to take advantage of suitable software program to check econometric types and this article illustrates in actual fact how this is often to be performed.
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Additional info for Applied Econometrics: A Modern Approach Using Eviews and Microfit Revised Edition
The Classical Linear Regression Model __ ) There are many ways of fixing a line including: I·J 1 By eye. 2 Connecting the first with the last observation. (l t _j 3 Taking the average of the first two observations and the average of the last two observations and connecting those two points. 4 Applying the method of ordinary least squares (OLS). Ii u The first three methods are naive ones, while the last is the most appropriate method for this type of situation. The OLS method is the topic of the next section.
If we copy the graph to the clipboard we can paste it in a different programme very easily by either pressing ctrl+v or by clicking on Edit/Paste. Conventional Windows programmes allow the graph to be edited, changing its size or position in the programme. \ '• l-! I,,_ ,- I l? -a·-,,, . ) IS Working with Data: Basic Data Handling Summary statistics L' I ~ ~ ~ ·~ •, To gain a more precise idea of the distribution of a variable Xt we can estimate various . simple measures such as the mean (or average), often defined as x, the variance often defined as a} and its square root, the standard deviation again stated as ax.
Common examples of indices are the consumer price index (CPI) and the JSE all-share price index. many prices in one series (the all-share index is comprised of many individual companies' share prices). Note that two indices may only be compared directly if they have the same base date, which may lead to the need to change the base date of a certain index. \j \. j . , Splicing two indices and changing the base date of an index Suppose we have the following data: \. e. the index takes on a value of 100 in 1985), while from 1991 onwards (column 3) the base year is 1990.