identify the major concept or theorem from the course with which the equation or statement is most closely associated

INSTRUCTIONS TO CANDIDATES

ANSWER ALL QUESTIONS

Short answer (60 points total, 10 points each)  

For each of the following six mathematical statements: 

a) identify the major concept or theorem from the course with which the equation or statement is most closely associated (e.g., consistency, the Law of Large Numbers, etc.) b) explain in your own words what the equation means (e.g., that an estimator converges to the parameter it is estimating) c) explain why the equation is important to applied econometrics 

i. E(uixi) = 0 

where u are the residuals from a regression, e.g., y = a + X13 + u 

1 SSR 2. SST where SSR is the sum of squared residuals and SST is the total sum of squares from a regression, e.g., y = a + XI3 + u 

3. E(U2 41, . . . , Xk) = E(U2) = 0-2 

where u are the residuals from the regression y = a + X1I31+ ... + Xk13k + u and a is a constant 

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