On this page, you can find the recording of the Exam Training for QM2 Stats [Quantitative Methods 2 Stats]. Feel free to ask questions in the comment section below, we will answer them 🙂
Recording
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Hi Nathan, we apologize for the confusion! As indicated in the description above and the purchase note in your order, the recording will be released on the 21st of March (at the latest)! We apologize for any inconvenience that this may have caused and if you have any questions, please let us know!
Hi! For the second exercice, from where did you get “z”?
Hi Clara,
you have to check the z-table for a 90% confidence interval to get the critical value.
Hope that helped 🙂
But 1.645 corresponds to a 95% confidence interval in the z-table?
Hi Leopold,
Yes, but the z-distribution is one sided and we are searching for an interval, which is two sided (95％ and 5% if one sided and 90% and 10% if two sided).
I hope that makes sense, otherwise let me know!
Best
Florian
Hi for slide 16 and Question 6, I don’t think it’s B) can you please explain? I’m not good at interpreting but I think there is an issue.
Hi 🙂
So here we are looking for our coefficients of the mode. We have men (120) as our baseline so this represents our b0. Then if the female dummy is activated (female=1) then you have to add 20 (140-120). Therefore B is the correct answer.
Hope that helps.
Hi,
for question 17, how do you know whether it’s a time series or cross-sectional data?
For the 2. question, If I’m not wrong you need to use the z-table rather than the t-table which you have taken the 1.645 from, additionally in the explanation slide 2E, you have put a t-table there. Please fix me if I’m wrong.
on question 13.E, how do we know that Bi is =0 ? And which df do we use in the t-table to find the t-statistic?
Nevermind, I got it
Hi, can u please explain where does the number -10,293 come from (question 24)?
Hi, thanks for your question!
It’s the sum of -4704 and -5593, the original coefficients for the dummies.
Salary for grade 1 should always be the lowest, no matter what we use as a baseline. So the -10297 now reflects the difference between grade 1 and grade 3.
Hope that helps!
-Leonie
For question 13 how do you know which alpha-level to choose?
Hi, thanks for your question!
The P-value for this test is 0.06 (or 6%) as given in the excel output. This is very close to a p-level of 5% (see the hint in the question), therefore we choose the alpha level of 5% in the table. This is of course not perfectly accurate as we are rounding here, but it’s our best guess given the info we have.
Hope that helps!
-Leonie
Hi, for question 13 could you please explain why we use the residual df instead of doing n-1 as df?
Hi Amelie,
if you check the formula sheet, the df formula for the regression df is n-k-1, which is also how you calculate the df of the anova residual row in the regression! Let me know whether it makes sense! Best Florian
Im sorry but i cant find the 1.645 in the z-table
Hi Lou,
With large samples, you can also look at the t table like we do here but you could of course also look at the z table (only problem with z is that you often have to make adjustments). Hope that makes sense otherwise let me know!