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  3. 1 for each of the following explain whether a the...

Question: 1 for each of the following explain whether a the...

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1. For each of the following, explain whether (a) the coefficients are biased or unbiased, and (b) the standard errors (t-statistics) are valid: (a) (5 points) Heteroskedasticity (b) (5 points) A sample correlation coefficient of 0.95 between two independent vari- ables. (c) (5 points) Omitting an important explanatory variable.

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