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ECS3706 Assignment 2 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED R50,00
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ECS3706 Assignment 2 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED
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Well-structured ECS3706 Assignment 2 (ANSWERS) Semester 2 2024 - DISTINCTION GUARANTEED. (DETAILED ANSWERS - DISTINCTION GUARANTEED!)..1. Explain why econometricians must know and understand the classical linear regression assumptions. (4) 2. Explain the role of the Central Limit Theorem in stat...

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  • September 6, 2024
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  • 2024/2025
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ECS3706
Assignment 2 Semester 2 2024
Unique Number: 399706
Due Date: September 2024

QUESTION 1

Why econometricians must know and understand the classical linear regression
assumptions:

Econometricians must understand the classical linear regression assumptions because they
form the foundation of Ordinary Least Squares (OLS) estimation, ensuring the accuracy, validity,
and reliability of the regression results. These assumptions help in:

• Ensuring unbiased estimators: When assumptions like zero correlation between error

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