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If the true model is given by y=BotBiX1+B2X2+& but we omit X2 then Select one: O a. if X1 and X2 are uncorrelated, the s.e. of estimated B, with omitted variables will be smaller than the s.e. of estimated B, with the true model O b. the estimated B, will be biased O c. the forecast of y will be biased O d. if X1 and X2 are uncorrelated, the t statistic for testing B1=0 from the model with omitted variables is likely to be larger in absolute value than that from the true model O e. None of the aboveIf the true model is given by y=BotBy*X1+E but we include an irrelevant variable X2 in the regression, then Select one: O a. if X1 and X2 are uncorrelated, the t statistic for testing B1=0 from the model with irrelevant variables is likely to be larger in absolute value than that from the true model O b. The forecast for y will be biased O c. the estimated $1 will be biased O d. The forecast for y will more imprecise