# Welcome to our Blog

Thank you to everyone who attended the UCC Entrepreneur of the Year Awards 2020 at University College Cork in Ireland
If you are interested in watching a recent address I gave at the European Youth Parliament, you can view it
Good morning, So what is interval data? When used in econometrics, interval data is that which is a fixed distance
Hello again, The key in econometrics to what a particular concept means is often found in the title. In this
With nominal data, each category is mutually exclusive to the next and there is no crossover between the respective categories. Examples
Hey, So what is cross-sectional data? Cross-sectional data is effectively a snap shot of a given population. For example if
Time series data is points of information achieved successively at equally spaced periods of time. An example of time series
In econometrics, the degrees of freedom are the number of observations in a sample minus the number of restrictions which
Endogeneity occurs where an explanatory variable is present within your regression model which is correlated to the error term. This
The principle of parsimony suggests that as general rule, a regression model as simple should be kept as minimalistic as
The common intercept value in a linear regression equation is always taken as one. The basis for this is that
The correlation coefficient is used in economics and throughout econometrics to measure the strength of a relationship between two given
According to the Gauss Markov Theorem, if the first six classical assumptions are met within your model, then the estimates
The p-value tells us the lowest level of significance at which we can reject the null hypothesis. What we mean
According to the Gauss Markov Theorem, an Ordinary Least Squares (OLS) model can be considered as the Best Linear Unbiased
Two variables are a perfectly linear function of each other when one variable can be entirely explained by the movement
In econometrics, variance can be described as the spread of the data from the average value of the data set
In econometrics, a fantastic way of observing the relationship between the respective error observations within a given data set
There cannot be any correlation between the explanatory variables present within a given equation and the error term. If it
When the intercept term is present in any given regression equation, it forces the average of the error term to
In this assumption, it is assumed that the model is linear in the slope coefficients and the associated error term
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