When Using Least Squares to Estimate a Model with a Censored

question 8

Multiple Choice

When using least squares to estimate a model with a censored dependent variable,the results are

• A)biased and inconsistent
• B)unbiased,but not minimum variance
• C)unbiased and consistent
• D)biased but consistent

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Definitions:

Congress

A national legislative body, primarily responsible for making laws.

Marbury v. Madison

A landmark case in 1803 where the U.S. Supreme Court first declared the power of judicial review, establishing the basis for the judiciary's ability to declare laws unconstitutional.

Judicial Review

Judicial review is the doctrine under which legislative and executive actions are subject to review by the judiciary to affirm their legality or compliance with the constitution.

Constitutionality

The quality of being in accordance with the constitution or being authorized by the constitution.