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Explain the omitted variable problem

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Reference no: EM132129906

Question: 1. What is the difference between the concepts of correlation and of causation?

2. What is the difference between a theory and a hypothesis?

3. What is a variable?

4. Explain the omitted variable problem, using an example.

5. What is the difference between endogeneity and spurious correlation?

6. Explain how independent and dependent variables are related to one another, making reference to causal arguments.

Reference no: EM132129906

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