1. Økonometri The regression model OLS Regression Ulf H. Olsson Professor of Statistics

2. Ulf H. Olsson Estimator An estimator is a rule or strategy for using the data to estimate the parameter. It is defined before the data are drawn. The search for good estimators constitutes much of econometrics Finite/Small sample properties Large sample or asymptotic properties An estimator is a function of the observations, an estimator is thus a sample statistic- since the x’s are random so is the estimator

3. Ulf H. Olsson Small sample properties Les 229-230

4. Ulf H. Olsson Large-sample properties

5. Ulf H. Olsson Regression analysis OLS Regression parameter St.error T-value P-value Confidence interval R-sq R-sq.adj F-value The error term

6. Ulf H. Olsson Classical Assumptions (Les 6.1) Y is stochastic, x1, x2,….,xk are not Linearity in the parameters The error term has const.variance The error term is norm. Distributed with expectation equal to zero The error terms are independent The x-variables are linearly independent

7. Ulf H. Olsson GAUSS-MARKOV OLS is BLUE given the Classical Assumptions B = Best L=Linear U=Unbiased E=Estimator

8. Ulf H. Olsson Regression Analysis

9. Ulf H. Olsson OLS – Minste Kvadraters Metode

10. Ulf H. Olsson OLS

11. Ulf H. Olsson OLS