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Can the Gauss-Markov Theorem be used to rank the variances of the OLS estimator and the IV estimator when MLR.4 holds (assuming MLR.1, MLR.2, MLR.3 and MLR.5 also hold)? Explain why or why not.
d) Can the Gauss-Markov Theorem be used to rank the variances of the OLS estimator and the IV estimator when MLR.4 fails? Explain why or why not.
Apr 17 2021 View more View Less
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