Under the least squares assumptions for the multiple regression problem (zero conditional mean for the error term, all Xi and Yi being i.i.d., all Xi and ui having finite fourth moments,
no perfect multicollinearity), the OLS estimators for the slopes and intercept
A) have an exact normal distribution for n > 25.
B) are BLUE.
C) have a normal distribution in small samples as long as the errors are homoskedastic.
D) are unbiased and consistent.
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Why do sellers pay all of a tax when supply is perfectly inelastic?
A) because a perfectly inelastic supply means that the demand is elastic B) because the government requires firms to collect the tax C) because a perfectly inelastic supply means that the quantity supplied is quite sensitive to a change in price D) because a perfectly inelastic supply means that suppliers will produce the same amount regardless of the price E) because in this case the price of the good that suppliers receive and keep does not change
How is the unemployment rate calculated? Describe the three principal types of unemployment.
What will be an ideal response?