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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?
1) Lynne's income is £2, 000 and she is risk averse. The probability of someone slipping on her stairs is 1/8. If this happens, she will be sued for £1, 000 and will have to pay th
Weston Industrial Manufacturing Products ("WIMP") has the capability to produce a variety of industrial products, including a number of types of widgets. In the past, WIMP has manu
IMF-World Bank Harmony: Bretton Woods institutions work in tandem. World Bank BOP support is not available with a Fund Programme, while a Fund Programme cannot be finalised w
please can you explainn what "down 0.1 percentage point on the quarter means"?
1. Describe why government regulation is required, citing the major reasons for government involvement in a market economy. 2. Justify the rationale for the intervention of gove
What is law of demand
Consider an economy, in which technological capabilities become obsolete. Use the Solow-Swan model and the knowledge spillover model to explain how its productivity growth rate dep
Consumer Choice * Decision making & Public Policy - Selecting from a non matching and matching grant to fund police expenditures
is south african economic system more allocative efficient?
Q. Level of aggregate demand in economy? Demand-pull inflation takes place when there is an increase in level of aggregate demand in economy. Aggregate demand comprises five co
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