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Which of the following can cause OLS estimators to be biased? Explain each of the following points: 1) Heteroscedasticity 2) Omitting an important variable 3) A sample correlation coefficient of 0

Business Sep 09, 2020

Which of the following can cause OLS estimators to be biased? Explain each of the following points:

1) Heteroscedasticity

2) Omitting an important variable

3) A sample correlation coefficient of 0.95 between two independent variables both included in the model.

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