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For each of the following question, write a minimum of 250-word response. Use examples, graphs, equations, etc. to support your answers where possible. [50] a.

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For each of the following question, write a minimum of 250-word response. Use examples, graphs, equations, etc. to support your answers where possible. [50] a. What is multicollinearity? Discuss causes and consequences of multicollinearity for OLS estimation. Suggest possible remedies for multicollinearity. [50] b. Explain what heteroscedasticity is and describe two possible causes of heteroscedasticity. Discuss the consequences of heteroscedasticity for OLS estimation

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