Consider the following simple regression model Y = bo + bịX + u. Suppose Z is anomitted variable. Suppose Cov(X, u) > 0 and Cov(Z, X) > 0. Then, the OLS estimatorhas:O a. a downward bias.b. no bias.ou.OC. an upward bias.O d. bias of uncertain direction.

The OLS estimator has an upward bias.

Answered: Consider the following simple…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Consider the following simple regression model Y = bo + bịX + u. Suppose Z is an omitted variable. Suppose Cov(X, u) > 0 and Cov(Z, X)>0. Then, the OLS estimator has: O a downward bias. Ob. no bias. OC an upward bias. O d. bias of uncertain direction.