QUIZ 2

About This Quiz

• Course content tested: Machine Learning Concepts, Econometrics, Causal Inference, Supervised vs Unsupervised Learning, Bias-Variance Tradeoff
• Quiz format: multiple choice
• Time limit: none
• Number of attempts: unlimited

Objectives

This assignment will guide your learning process to ensure you can:

• Distinguish between machine learning, artificial intelligence, and econometrics, and explain their roles in economic analysis. (CLO E, MLO 1)
• Identify and explain the differences between regression and classification problems in machine learning, including appropriate algorithms and evaluation metrics for each. (CLO B, MLO 2)
• Describe the key characteristics of supervised and unsupervised learning approaches, providing examples of their applications in economics. (CLO C, MLO 3)
• Explain the concept of the bias-variance tradeoff and its importance in selecting and optimizing machine learning models. (CLO B, MLO 4)
• Calculate and interpret common performance metrics for regression and classification models, such as MSE, R-squared, accuracy, and ROC curves. (CLO B, D, MLO 5)
• Analyze how machine learning (prediction) and econometrics (causal inference) complement each other in addressing economic questions, and provide examples of appropriate use cases for each approach. (CLO E, F, MLO 6)

(CLO) stands for Course Learning Objective. (MLO) stands for Module Learning Objective You will find a complete list of Course Learning Objectives in the Syllabus and on the Start Here: Course Overview page. Module Objectives are listed on the Module Introduction pages. Each Assignment Objective and Module Objective in this course has its associated course-level objective indicated in parentheses to clarify the relationship between the two.  

Guidelines

Click the "Take the quiz" button once you are ready to take the quiz. You will be able to take this quiz as many times as needed, but answers will not be revealed. Active recall (testing yourself) is an important part of the learning process, so you will be best served by taking this quiz honestly based on what you know, going back to review materials based on what you missed, then coming back to take the quiz again.

If you purposefully or inadvertently close the window, you may re-enter the quiz by clicking the "Resume Quiz" button. Note that the timer will continue to count down to zero and automatically submit your quiz when the provided time runs out. 

Academic Integrity

• Getting help on the quiz from your peers is not permitted.
• Collaborating, or completing the quiz with others in the class, is not permitted.
• Copying or reusing previous work is not permitted.
• Open-book research for the quiz is permitted and encouraged.