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...Wooldridge introductory econometrics th ed appendix c fundamentals of mathemati cal statistics ashort review the principles is concerned with statistical inference learning about char acteristics a population from sample well dened group subjects and it important to de ne interest are we trying study unemployment rate all labor force participants or only teenaged workers ahana given may dene an economic model that contains parameters coecients elastic ities which express eects changes in one variable upon another let y be random r v representing probability density function pdf f scalar parameter assume know but do not value pop ulation being inde n i pendent drawn speak yi iid independently identically distributed often samples bernoulli distribution for instance if pick stu dent randomly my class list what she female probabil ity where students so p many other applications will normal distribu tion case characterized by two expressing mean spread respectively finite properties estima...