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(a) What is meant by heteroscedasticity and what are the consequences of applying OLS estimation in its presence?
(b) Explain in details the Generalised least Square procedure that can be used to correct the problem of heteroscedasticity and propose other alternative solutions?
(c) Explain and show graphically what autocorrelation means, what are the consequences of ignoring it and how can the application of the Durbin-Watson test helps in detecting it?
Closesubstitute goods: The number of closesubstitute goods The more substitutes of good has and the more close the substitutes are, the more elastic the demand for the good. Fo
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why s-block elements are powerful reducing agent?
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