Question: Econometrics is the application of statistical methods to economic data and is described as the branch of economics that aims to give empirical content to economic relations. More precisely, it is "the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference". An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships". The first known use of the term "econometrics" (in cognate form) was by Polish economist Pawe Ciompa in 1910. Jan Tinbergen is considered by many to be one of the founding fathers of econometrics. Ragnar Frisch is credited with coining the term in the sense in which it is used today.

The basic tool for econometrics is the multiple linear regression model. Econometric theory uses statistical theory and mathematical statistics to evaluate and develop econometric methods. Econometricians try to find estimators that have desirable statistical properties including unbiasedness, efficiency, and consistency. "Applied econometrics" uses theoretical econometrics and real-world data for assessing economic theories, developing econometric models, analyzing economic history, and forecasting.

The basic tool for econometrics is the multiple linear regression model. In modern econometrics, other statistical tools are frequently used, but linear regression is still the most frequently used starting point for an analysis. Estimating a linear regression on two variables can be visualized as fitting a line through data points representing paired values of the independent and dependent variables. 1. what method is being discussed?
2. what is it?
3. what does it try to do?
4. what else is it considered to be?
5. based on what?
6. what does it allow economists to do?
7. when was the word first used?
8. by who?
9. who is he?
10. who made up the term that we now use?
11. who else played an important role in coming up with it?
12. to what extent?
13. what is the most important tool for econometrics?
14. what does this theory use?
15. to accomplish what?
16. which is the most used tool?
17. how is this done?
18. how is it visualized?
19. of what?
20. what is the main goal of an econometrician? Provide a numbered list of answers.
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A numbered of answers: 1. Econometrics
2. the application of statistical methods to economic data
3. give empirical content to economic relations
4. the quantitative analysis of actual economic phenomena
5. the concurrent development of theory and observation, related by appropriate methods of inference
6. sift through mountains of data to extract simple relationships
7. 1910
8. Pawe Ciompa
9. a Polish economist
10. Ragnar Frisch
11. Jan Tinbergen
12. considered by many to be one of the founding fathers
13. the multiple linear regression model
14. statistical theory and mathematical statistics
15. to evaluate and develop econometric methods
16. linear regression
17. unknown
18. as fitting a line through data points representing paired values
19. the independent and dependent variables
20. to find estimators that have desirable statistical properties

Question: October 21 was a very dark day in Texas.Not only did Hurricane Hanna destroy homes,it caused the largest business damage in Texas's history.The worst thing is Hanna's destructive force nearly wiped out most power poles and power lines.According to Center Point Energy,Hurricane Hanna affected 2.15 million customers.Currently, more than 4,000 of them are still in the dark.Crews have worked 16-hour shifts to restore power to residents.

Most of Houston seems to be returning to normal.Schools,restaurants,retail stores and gas stations are open.Smiles are back.But harder-hit places,including Galveston,will take much longer to recover. Hundreds of people are still missing,and coastal towns are a mess.Some ruins from storm have drifted south to other beaches in Texas.Several public schools in Galveston are closed due to water damage.Parents are registering kids in other area schools which are scheduled to begin class on November 13.Many school supplies were destroyed.

Clara Barton Village is an emergency shelter located at Alamo Elementary School in Galveston,Texas.This is where Paula Reed and her family are staying.Believe it or not,Paula Reed and her family consider this hurricane a blessing.When Paula was a girl,she was an orphan,but was taken in by her stepmom,Antonia Flores.Reed lost contact with Flores and had been trying desperately to locate her for the past few years.Before the hurricane,Reed and her family moved away from Galveston to a San Antonio shelter.There,she reunited with Flores after 30 long years! The moment they saw each other, their lives were changed. 1. What is the temporary housing called?
2. Where is it located?
3. Is it in Austin?
4. Where then?
5. What was the tragedy that promptated these accomidatios?
6. When did this happen?
7. Was anyone unaccounted for?
8. How many?
9. Who was reunited?
10. How long of an absence?
11. Was Houston hardest hit?
12. Who had it worse?
13. How many households were left with out lights?
14. Are all the education centers open in Galveston?
15. When was the semester supposed to start? Provide a numbered list of answers.
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A numbered of answers: 1. Clara Barton Village
2. Alamo Elementary School
3. no
4. Galveston,Texas.
5. Hurricane Hanna
6. October 21
7. yes
8. Hundreds
9. Paula Reed and Antonia Flores
10. 30 years
11. no
12. Galveston
13. 2.15 million
14. no
15. November 13

Question: David comes from the train station and he doesn't know where to go. This is the first time he comes to this town. He comes to see his good friend, Peter. Peter is a doctor. He works in a hospital. But David doesn't know where the hospital is. He walks in the street. He passes a bank, a post office, a hotel and at last he goes to a school. Some students are coming out, so he asks one of the students, "Excuse me. Which is the way to People's Hospital?" "Well, I know, you can go along this street, take the second turning on the right, and then take the third turning on your left. It's next to a museum." "I'm sorry I can't follow you." "Well, I just live near there, and my mother works in that hospital, too. I'm going home now. Will you go with me? I'll take you there." "That's great! Thank you very much!" "Then, let's go to the bus stop. And we'll take the No.12 bus there." 1. What is David's friend called?
2. What is Peter's profession?
3. Is he employed by a hospital?
4. What form of transportation did David take at the beginning of the story?
5. After getting off the train, did he get lost?
6. Is he a frequent visitor to this city?
7. What is the name of the hospital he is searching for?
8. To whom does he ask for information about the hospital?
9. What does the student tell him the hospital is near?
10. What bus do they take at the conclusion of the story? Provide a numbered list of answers.
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A numbered of answers:
1. Peter
2. doctor
3. yes
4. train
5. yes
6. no
7. People's Hospital
8. one of the students
9. the student
10. No.12 bus