P2 Answer the following in the space providedWat are the attributes of a "good" econometric model?B) What are the consequences of omitting a relevant variable(s) from a model?C) What are the consequences of including irrelevant variables in a model?

A)The attribute of a good economic model are:- i) high R squared value which explains the…

swer the following in the space provid ne attributes of a "good" econometric model? at are the consequences of omitting a relevant variable(s) from a model? What are the consequences of including irrelevant variables in a model?

swer the following in the space provid ne attributes of a "good" econometric model? at are the consequences of omitting a relevant variable(s) from a model? What are the consequences of including irrelevant variables in a model?

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter15: Monetary Policy

Section: Chapter Questions

Problem 1QP

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Question

Answer the following in the space provided
Wat are the attributes of a "good" econometric model?
B) What are the consequences of omitting a relevant variable(s) from a model?
C) What are the consequences of including irrelevant variables in a model?

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