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Class 12 (regression equation (Result Table (5 sectors (sector 4 (R…

- - - - OLS Ordinary Least Squares
  - - - means 100% data is clean
        
        means no error was found in data & regression was run for all the observations i.e. 907
        
        for cross section data, data must be 100% clean
        
        for time series data, error in 2 observations is acceptable
        
        if data is not 100% clean then the regression results can not be accepted
        
        data must be 100% clean in order to accept the regression results
    - - all these numbers are on average
        
        on average, minimum income will be 3920, on average, age is positively related with income etc.
      - coefficient number will tell relation according to data & coefficient sign will tell about correlation either positive or negative
      - constant (c) defines the minimum values of the whole equation
        
        at least value (c)
        
        c is related to dependent variable
        
        e.g. minimum income 3920
    - - standard deviation
        
        +,-
        
        e.g. 10 plus minus 2=8 or 12
        
        means data is traveling between 8 & 12 and data is fluctuating in 4 numbers
        
        e.g. 925+, 925-, deviation of mean means coefficient 3920 because its on average
        
        on average, income is 3920 which fluctuates according to 925
        
        1 more item...
        
        deviation of mean means coefficients because these are on average values
      - In econometrics, we call it standard error. Standard error contains standard deviation also, along with many other things
    - - sector 4
        
        R-squared, adjusted r-squared etc.
      - sector 3
        
        t-statistic and prob
      - sector 5
        
        Mean dependent variable, S.D. dependent variable etc.
      - sector 2
        
        variable, coefficients and std. error
      - sector 1
        
        dependent variable, method, date, time, sample (adjusted), and included observations (after adjustments)
    - - means data is starting from 1 and ending at 907
- - - - a team lead by economist
        
        research on agricultural land reforms
        
        almost 2 years project
        
        this research was funded by Germany