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Problem:
(a) Consider the Classical Linear Regression Model (CLRM)
Yi = α + βXi + εi (i) Using the method of ordinary least squares (OLS), derive an expression for α and β.
(ii) Prove that the OLS estimators derived in (a) above are unbiased.
(b) Illustrate clearly the concept of dummy variable trap.
Review the following information pertaining to the potato chip industry and answer the questions below in a five to six double spaced page paper (not including title and reference
The Wealth of Nations of Modern Economies When the federal government uses expenditures to stimulate the economy, it changes not only the present but the future as well. Question
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Ask question what is frugal economy
1. Through graphs describe the relationship between the price, P , and the average total cost, ATC , for a firm in perfect competition when it earns an economic profit; earns a n
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A firms total cost function is TC=0.0006*X^3-0.086*X^2+4.8*X+25 and its total revenue function is TR=2.5*X find its profit function
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