# Econ 900

 .remove_background_ad { border: 1px solid #555555; padding: .75em; margin: .75em; background-color: #e7e7e7; } .rmbg_image { max-height: 80px; } 3 Characteristics of a Random Experiement 1. All possible distinct outcomes are known a-priori.2. In any particular trial the outcome is not known a-priori but there is a discernible frequency by which outcomes happen.3. Experiment can be repeated under identical circumstances. Qualtifications for a random sample 1. Independence: the random variables are said to be independent if they do not influence the outcome and are not influenced by the outcome of any other random variable.2. Identically distributed: The RVs (X1,...,Xn) are identically dist. if their density functions are identical in the sense that f(X1 | 0 (theta)) = f(Xn | 0(theta)). How do you tell if a set is countable? A set is countable if each element can be matched with a distinct natural number. (1, 2, 3, ...) What is a subset? A C S? A C S? If A & S are sets, we say that A is a subset of S, if every element of A is also an element of S.A C S is a strict subset if A =/ S. A C S is a weak subset of S if it is possible that A = S Define Union U The union of sets A and B denoted A U B, is defined as the set of outcomes that are in A and B (or both). AuthorAnonymous ID32619 Card SetEcon 900 DescriptionEcon 900 study cards Updated2010-09-03T20:39:40Z Show Answers