Question

Question 13 3 pts Consider three data series, each a random sample of seven observations (n = 7): Series 1: {1, 1, 1, 3, 5, 5, 5} Series 2: {1, 1, 3, 3, 3, 5, 5} Series 3: {1, 3, 3, 3, 3, 3, 5} The interquartile range of Series 3 is: 4 0 3 2 Question 14 3 pts Suppose that you estimate a multiple regression model, but that you inadvertently omit an explanatory variable that is correlated with the dependent variable. In this case, o the coefficients on the included variables will always be biased. o the coefficients on the included variables will always be unbiased, but the standard errors and test statistics will be biased. o there is no effect on the coefficients of the included variables since the omitted variable has been omitted. the coefficients on the included variables will be unbiased if the included variables are not correlated with the omitted variable. Question 15 3 pts Suppose that you estimate a multiple regression model using OLS using a sample of 120 observations. The skewness of the residuals is 0.5 and the excess kurtosis is 1. As a result, the value of the Jarque-Bera test is and we reject the null hypothesis of normally distributed disturbances at the 5-percent level of significance. 10; cannot O 5; cannot 10; can 5; cannot

Answer 1

Ans13. Series 3: {1,3,3,3,3,3,5}

The series itself is in ascending order.

Since there are seven numbers and the middle term of the series is 3.

So we will exclude it and form two halves such as:

Series- 1,3,3,<3>,3,3,5

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IQR= Q3-Q1

Q1= middle term of lower half i.e., 3

Q3= middle term of upper half i.e.,3

So,

IQR = 3-3=0 (option b).