Suppose that the true linear model for a process was Y = ?0 + ?1X1 + ?2X2 + ?3X3 and you incorrectly estimated the model y = ? + ?1X2. Discuss the bias that results from using the second model
What will be an ideal response?
Using the second model would result in a specification bias. This results in a bias in the estimated regression slope coefficient unless the correlations between the omitted variables and X2 are zero.
Business
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For products and services where there is relatively little information processing, consumers may move from the cognitive stage directly to the behavioral stage and then form attitudes after product usage
Indicate whether the statement is true or false
Business
A synthetic metric format uses:
A) no numbers to measure the property B) numbers to measure the property C) real properties to measure numbers D) artificial numbers to measure properties E) properties to measure synthetic numbers
Business