Answer to Question #223353 in Economics of Enterprise for Bohlale

Question

Econometrics uses statistical techniques to estimate linear relationships
between different variables by minimizing the sum of the squared resid-
uals. Assumptions have to be made to make sure our regressions are
valid.
Explain the small sample properties of Ordinary Least Squares (OLS)
under the assumptions such that the estimators are unbiased, the vari-
ance of estimators are constant and the estimators can be used to make
statistical inference.

Answer 1

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