This study source was downloaded by 100000839564890 from CourseHero com on 06 10 2023 06 07 06 GMT 05 00 https www coursehero com file 45584822 ECON2271 Week 2 Activitiesdocx ECON2271 Business EconometricsStudent Activities for week 2To do list for week 2 1 Make sure you re OK with the lecture material for Topic 1 use the suggested textbook references to read up further a necessary 2 You can start working with the pre lab exercises next page before attending the lecture if you want a head start You should be able to complete all of them perhaps except for the last question Otherwise 3 Attend the week 2 lecture then make sure you complete the pre lab exercise BEFORE going to your lab 4 Attend your scheduled lab in the trading room 5 Attempt Quiz 1 on LMS AFTER your lab session The Quiz covers material from the lab as well as the lecture material The Quiz can be found in the Assessments area on LMS and will be open from 3pm on Wednesday until 11 59pm on Friday Here is a list of learning outcomes for the first two weeks for your reference Topic 1 Key concepts Data distributions and comparing means Students able to identify data scales and quality Students able to identify format and implications for analysis Students able to understand the concept of a probability and frequency distribution andsampling key characteristics of the normal distribution and key measures of central tendency and dispersion Students able to identify and test hypotheses comparing means manually identifying and interpreting a 95 confidence interval for a mean Topic 2 i Univariate Regression For the general econometric model Y b0 b1X u Students able to distinguish between model variables and parameters Students able to interpret meaning of model parameters and error term Students able to test simple hypotheses comparing means using dummy regression Students able to explain the basic premise of OLS Students able to evaluate goodness of fit using R squared and F stat Students able to estimate simple univariate regression model and interpret key regression output correctly 1 This study source was downloaded by 100000839564890 from CourseHero com on 06 10 2023 06 07 06 GMT 05 00 https www coursehero com file 45584822 ECON2271 Week 2 Activitiesdocx Pre lab ExercisesOpen the Excel file called Marks which is provided in the Week 2 folder Have a look at these data and determine the following spaces are provided here so you can write type directly on the document 1 Identify the types of scales which apply to the variables in this dataset i e binary nominal ordinal interval quasi cardinal or fully cardinal and continuous or discrete unlimited or limited Here is a table you can use for this purpose VariableBinaryNominalOrdinalIntervalCardinalContinuousDiscreteUnlimitedLimitedStudent randomised identifierfor each student Mark unit total score GradeGenderFemale Essay mark for essay assignment Tutor identifier for each tutor Tutorgender tutor s gender Femtutor female tutor 2 Generate some summary statistics for the variables If you are unsure about how to do this in Excel the second worksheet in this file has some summary statistics at the bottom scroll down See if you can replicate these formula in the first worksheet Using these statistics a Calculate the standard error for the mean unit score or mark students total unit score using the formula shown in class b Calculate the 95 confidence interval for the mean unit score c Is the mean unit score statistically different from 62 at the 95 level of confidence Provide an answer both using your answer for b also by calculating and interpreting the t statistic for this difference d What proportion of the sample are female 2 This study source was downloaded by 100000839564890 from CourseHero com on 06 10 2023 06 07 06 GMT 05 00 https www coursehero com file 45584822 ECON2271 Week 2 Activitiesdocx e What does the mean value for tutor mean f What proportion of students had a female tutor 3 Are female and male students statistically different in terms of the total unit mark at the 95 level of confidence Set up the null and alternative hypotheses calculate the t statistic and interpret 4 Does the gender of the tutor matter in terms of the essay mark awarded Set up the null and alternative hypotheses calculate the t stat and interpret using a 95 level of confidence 3 This study source was downloaded by 100000839564890 from CourseHero com on 06 10 2023 06 07 06 GMT 05 00 https www coursehero com file 45584822 ECON2271 Week 2 Activitiesdocx Lab exercises to be completed in pairs in the labs Student are encouraged to cooperate and help each other when completing these 1 Open Stata on your computer You should see something like this 2 Then open the Stata data file called Marks in Stata marks dta Have a look at your data by clicking the data browser icon 3 Briefly compare your notes about the types of scales which apply to the variables in this dataset i e binary nominal ordinal interval or cardinal and continuous or discrete unlimited or limited Check that you agree and discuss if you don t 4 Generate summary statistics for the variables in this data set by navigating the menu Statistics summaries tables and tests Summary and descriptive statistics Summary statistics then use the drop down menu to select all the variables click on each of them and press submit Make sure you figure out how to do this even if it takes you a while Once you ve generated your summary statistics you can see what the code for this Stata command looks like at the top of the results Mental note Look at the statistics and compare these with your answers for Question 2c f of the pre lab exercises 4 This study source was downloaded by 100000839564890 from CourseHero com on 06 10 2023 06 07 06 GMT 05 00 https www coursehero com file 45584822 ECON2271 Week 2 Activitiesdocx femtutor 447 6241611 4848814 0 1 tutor 447 4 400447 2 470145 1 8 essay 416 10 14213 2 680749 0 15 female 450 4355556 4963814 0 1 mark 442 63 45475 20 59245 0 100 student 450 227 7444 131 2855 1 454 Variable Obs Mean Std Dev Min Max summarize student mark female essay tutor femtutor5 Now use Stata to test the null hypothesis that the mean total unit score mark 62 Navigate the menu to perform a t test for comparing means summaries tables and tests Classical tests of hypotheses t test mean comparison test A pop up window appears Use the drop down menuto select mark and specify the hypothesized mean 62 then hit submit Pr T t 0 9309 Pr T t 0 1382 Pr T