ECN 102 M1

Explain Cross-Section Data

Data taken on different individuals at one time

Explain Time-series Data

Data taken on the same quantity at different points in time

Explain Panel Data/ Longitudinal Data

Data taken on the same population at different points in time

Explain Repeated Cross Section Data

Data taken on different populations at different points in time

What is involved in Central Tendency?

Mean, Median

What is involved in dispersion?

Standard Deviation, Variance, Kurtosis

What is involved in Symmetry?

Skewness

What quartile does the median lie at? Q1 and Q3?

Median: 50%

Q1: 25%

Q2: 75%

In N(0,1) what does 0 and 1 represent?

0 = mean

1 = standard deviation

What percent is with 1sd of mean, 2sd, and 3sd?

1sd = 68%

2sd = 95%

3sd = 99.7%

What is the coefficient of variation formula?

sample s.d. /sample mean

What is the kurtosis formula?

What is the Skew Formula?

When is data right skewed?

skew>0

What is the z-score formula?

Draw and label a right skewed box plot.

What is lnx used to do?

To make skewed data more symmetric