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(c) Consider the following set of simultaneous equations: Ylt = a1+ 61Xl+ +ult ( 4) Y2. = a2 + BYlt + BY3+ + u2t (5)

(c) Consider the following set of simultaneous equations: Ylt = a1+ 61Xl+ +ult ( 4) Y2. = a2 + BYlt + BY3+ + u2t (5) Y3, = a3 + B2Y2+ + 62X2+ + u3t (6)(e) Can you estimate equations (5) and (6) with the Indirect Least Square method? Explain. [2] %

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