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6 Cards in this Set
- Front
- Back
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empirical demand functions
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demand equations derived from actual market data
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representative sample
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a smaple, usually randomly, that has characteristics that accurately reflect the population as a whole
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responsive bias
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the difference the responsive given by an individual to hypothetical question and the action the individual takes whhen the situation actually occurs
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time-series model
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a statistical model that shows how a time-ordered sequence of observations ona variable is generated
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seasonal or cyclical variation
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the regular variation that time-series data frequently exhibit
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dummy variable
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a variable that only takes values of 0 and 1
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