If the true model is given by Y=BD+B1X1+BZX2+S but we omit Xgrthen Select one: O a. if X1 and X2 are uncorrelated. thet statistic for testing [31 =0 from the model with omitted variables is likely to be larger in absolute value than that from the true model O b. the estimated [31 will be biased O c. None of the above O :1. the forecast of y will be biased O e. if X1 and X2 are uncorrelated. the s.e. of estimated B1 with omitted variables will be smaller than the so of estimated B1 with the true model If the true model is given by Y=BD+B1*X1+ but we include an irrelevant variable X2 in the regression. then Select one: O a. the estimated [31 will be biased O b. if X1 and X2 are uncorrelated. thet statistic for testing [31 =0 from the model with irrelevant variables is likely to be larger in absolute value than that from the true model O c. The forecast for y will be biased O d. The forecast for y will more imprecise