92:, both the presence of an individual in the sample and the time at which the individual is included in the sample are determined randomly. For example, a political poll may decide to interview 1000 individuals. It first selects these individuals randomly from the entire population. It then assigns a random date to each individual. This is the random date that the individual will be interviewed, and thus included in the survey.
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For example, if we want to measure current obesity levels in a population, we could draw a sample of 1,000 people randomly from that population (also known as a cross section of that population), measure their weight and height, and calculate what percentage of that sample is categorized as obese.
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This cross-sectional sample provides us with a snapshot of that population, at that one point in time. Note that we do not know based on one cross-sectional sample if obesity is increasing or decreasing; we can only describe the current proportion.
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expenditures of various individuals in a fixed month could be regressed on their incomes, accumulated wealth levels, and their various
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collected by observing many subjects (such as individuals, firms, countries, or regions) at a single point or period of time.
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usually consists of comparing the differences among selected subjects, typically with no regard to differences in time.
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uses panel data to examine changes in variables over time and its differences in variables between selected subjects.
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features to find out how differences in those features lead to differences in consumers’ behavior.
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entity is observed at various points in time. Another type of data,
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