Lets identify the bias that results if we omit x1i rather than x2i from the regression estimating
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Let’s identify the bias that results if we omit x1i rather than x2i from the
�regression estimating equation (11.1). In other words, imagine that the
�population relationship is equation (11.1) but we estimate
(a) Rework equations (11.2) through (11.6) and (11.9) to identify the bias in this case.
(b) How does this bias compare to the bias term embedded in equation€(
11.32)? Why is it appropriate to identify the latter as an estimate of the former?
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