When we estimate B1 without controlling for X2, we derived in class that the B1 we are able to estimate is B₁ =B₁ + B₂61 What term measures the size of the bias in our estimate? OB2d1 OB2 d1 OB1 4

When we estimate B1 without controlling for X2, we derived in class that the B1 we are able to estimate is B₁ =B₁ + B₂61 What term measures the size of the bias in our estimate? OB2d1 OB2 d1 OB1 4

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

When we estimate B1 without controlling for X2, we derived in class that the B1 we are able to
estimate is
B₁ =B1 + B₂01
What term measures the size of the bias in our estimate?
O B2d1
OB2
O di
B1
4

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