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The econometric model is Y t =+ 1 Y t-1 + 2 Y t-2 +X t +U t Conduct LM test for serial correlation for

  • The econometric model is Yt=+1Yt-1+ 2Yt-2+Xt+UtConduct LM test for serial correlation for this model by using appropriate steps.

  • Why do you need special attention to time series data? Explain. Briefly explain the medium-term characteristic of a time series data with example

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