2. Suppose we have the following model ++" with u= a;+r. Note that we do not observe the variable , and so it is in the "unobservables" term u. Assume that E(l)-0. ilf E(1₂₁) = 0 and a > 0, is the estimator for a, biased? If so, in which direction (positive or negative)? ii. If E(1₂₁) >0 and a₂ <0, is the estimator for a, biased? If so, in which direction (positive or negative)? iii. If E(1) >0 and a₂ > 0, is the estimator for a, consistent? Show why or why not.

2. Suppose we have the following model ++" with u= a;+r. Note that we do not observe the variable , and so it is in the "unobservables" term u. Assume that E(l)-0. ilf E(1₂₁) = 0 and a > 0, is the estimator for a, biased? If so, in which direction (positive or negative)? ii. If E(1₂₁) >0 and a₂ <0, is the estimator for a, biased? If so, in which direction (positive or negative)? iii. If E(1) >0 and a₂ > 0, is the estimator for a, consistent? Show why or why not.

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter5: A Survey Of Other Common Functions

Section5.6: Higher-degree Polynomials And Rational Functions

Problem 1TU: The following fictitious table shows kryptonite price, in dollar per gram, t years after 2006. t=...

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