[Solution Library] Consider the following population model where educ denotes education and exper represents experience. Suppose that the population model satisfies
Question: Consider the following population model
where educ denotes education and exper represents experience. Suppose that the population model satisfies assumptions 1 through 4. Suppose that you omit exper 2 and you estimate the model as:
What can you say about the OLS estimator of \({{\beta }_{2}}\) ? Explain.
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