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Question 1:
(a) Using examples, explain the difference between time-series, cross-sectional, and panel data.
(b) Formulate a simple linear equation, and carefully explain the following terms:
(i) Explanatory variable (ii) Dependent variable (iii) R-square (iv) P-value
(c) Briefly explain the assumptions underlying the Classical Regression Model.
Question 2:
(a) Explain the term heteroscedasticity, emphasising on the problems that it represents for Ordinary Least Square (OLS) estimation techniques.
(b) Explain how the Generalised Least Square (GLS) can be used to correct for the problem of heteroscedasticity.
ive been asked to compare shapes of graphs e.g. constant slopes increasing, decreasing, inelastc using the concepts of marginal and average changes?
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1. Assessment Criteria The coursework will be marked on the overall outcome including: structure, quality of reasoning, quality of written English, data analysis, referencing, sty
# define output#
FOREIGN TRADE: Interdependence between the economies of the world has increased multifold. External sector in the economy has gained primeimportance. Both exports and imports
Ask question #Minimum 100 words accepteFill out this National Council on Economic Education worksheet: Technology and Monopolies (Links to an external site.) Now, pretend that you
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International Monetary Fund: The International Monetary Fund (IMF), the World Bank and the International Trade Organisation were conceived at the Brettonwoods Conference in Ju
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