88. More Classroom Fun

Some other random things my Econometrics professor said these weeks.

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"If you don't get zero, throw your computer away."

"TSLS is also written as 2SLS because 3 starts with T as well. Believe is not, there is something called Three Stage Least Squares."

Talking about how statistically, if the first two children are of the same sex, the mother is more likely to have a third child.
"I don't know. For some reason, they want to experience hell in some other way."

Talking about how he presented statistical work about cigarettes in front of a judge and jury for the case he was doing. He generalizes about the type of work.
"You present your work in front of a judge, who is a lawyer, and a jury, who's like your mother-in-law. She's a great person, but doesn't know what a Multinomial Discrete Choice Model is. I can't communicate with my mother-in-law about things like this. And the judge thinks he's the smartest person in the world, but in reality, he's an idiot."

Then, he reveals that famous economist Daniel McFaden was coincidentally the judge in that case.
"For important things like this, you don't want to give it to chance. You want to hand it to a master."