9.2 Key Concept 9.2 describes the problem of variable selection in terms of a trade-off between bias

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9.2 Key Concept 9.2 describes the problem of variable selection in terms of a trade-off between bias and variance. What is this trade-off? Why could including an additional regressor decrease bias? Increase variance?

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Introduction To Econometrics

ISBN: 9781292071367

3rd Global Edition

Authors: James Stock, Mark Watson

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Question Posted: Oct 26, 2024 01:00 AM

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9.2 Key Concept 9.2 describes the problem of variable selection in terms of a trade-off between bias

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Introduction To Econometrics

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