Econometrics Tutorial

Author: Liu Zhenya
Editor-in-Chief: Wang Limei
Publisher:
Publish Date: 2003-01-01
Features:
Fragment: It is necessary for readers to establish the following concept: If the distribution of a random variable is determined, then all its properties are known to us. In other words, the distribution of a random variable provides a complete description of it. For example, if we know that a random variable \( x \) follows a normal distribution with known variance and expectation (i.e., the distribution function is known), then we understand all its intrinsic properties. We can determine all critical values or other useful data required for further research by referring to the normal distribution table. The specific expression, graph, and the like are merely technical issues. In short, our focus should be on determining the distribution of a random variable.