1. What is Econometrics, according to Studenmund. 2. Explain the following linear equation: Price = 40.0 + 0.138(1600) = 260.8 3. What is a stochastic error term. 4. What are the four assumptions of linear regression. 5. What does a multivariate regression coefficient indicate. 6. What is R-squared. 7. Provide an example of an econometric model. 8. What is a Dummy variable and its impact on the intercept and slope of the line. 9. Explain heteroskedasticity. 10. Explain generally the Gauss-Markov Theorem. 11. Explain generally hypothesis testing, including Ho, Ha. 12. What is meant by a one-tailed and two-tailed test. 13. Define Type I and Type II Errors. 14. What is the level of significance. 15. What is meant by the quote, "The coefficient is statistically significant at the 5% level"