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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?
Business Executives and Choice of Risk * Example - Study of 464 executives found that: 20% persons were risk neutral 40% persons were risk takers 20% perso
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describe scitovosky''s double criterion
Bilateral and Multilateral Contracts Bilateral contract is defined as to purchase & sell certain quantities of a commodity at the agreed upon prices may be entered into between the
Suppose you own a home remodeling company. You are currently earning short-run profits. The home remodeling industry is an increasing-cost industry. In the long run, what do you ex
Economies of Common Services: Through the concentration of firms in a particular industry in a given geographical location, the firms may enjoy certain commonservices.These
Ask questA rmuses 4 inputs to produce 1 output. The production function is f (x 1 ; x 2 ; x 3 ; x 4) =minfx 1 ; x 2 g + minfx 3 ; x 4 g.ion #Minimum 100 words accepted#
what are the uses of cross elasticity quantity in demand/
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determine if completeness and transitivity are satisfied for the following preferences defined on x=(x1,x2)and y=(y1,y2);if x>y or x=y and x2>y2,if for min{x1,x2}
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