3. A researcher is commissioned by a policy maker to conduct an empirical investigation. The researcher needs to collect data and hence asks the policy maker for a grant. After the grant application is approved the researcher demands for more financial support to collect more data and increase its sample size. The researcher claims that the advantage of a bigger sample size is removing the bias from estimation.< a) Explain omitted variable in linear regressions. < b) Based on what you learnt in this module, do you agree or disagree with the researcher's claim that "bigger sample size removes the omitted variable bias". Discuss

3. A researcher is commissioned by a policy maker to conduct an empirical investigation. The researcher needs to collect data and hence asks the policy maker for a grant. After the grant application is approved the researcher demands for more financial support to collect more data and increase its sample size. The researcher claims that the advantage of a bigger sample size is removing the bias from estimation.< a) Explain omitted variable in linear regressions. < b) Based on what you learnt in this module, do you agree or disagree with the researcher's claim that "bigger sample size removes the omitted variable bias". Discuss

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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help please answer in text form with proper workings and explanation for each and every part and steps with concept and introduction no AI no copy paste remember answer must be in proper format with all working
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