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A1. What does OLS stand for? [2] A2. Explain in words the premise of OLS estimation (how are the OLS estimators B derived)? [2] A3.

A1. What does OLS stand for? [2] A2. Explain in words the premise of OLS estimation (how are the OLS estimators B derived)? [2] A3. What is unbiasedness and why is it a desirable property of the OLS estimators? [2,2]

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