Of the Remedies for an Interpolation/extrapolation Identification Problem, Which Requires

question 50

Multiple Choice

Of the remedies for an interpolation/extrapolation identification problem, which requires the most trust in the assumptions surrounding the data generation process?

• A) Use probit/logit to alleviate the data gaps.
• B) Collect more/alternative data to close the data gap, extent of the data.
• C) Use two-stage least squares to interpolate/extrapolate.
• D) Use functional form choices to interpolate/extrapolate.

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Definitions:

\(C ( x )\)

A function notation often used to represent the cost associated with producing \(x\) items.

Graph

A visual representation of data or mathematical functions, typically drawn on a coordinate grid.

Domain

The set of all possible input values (usually x-values) for which a function is defined.

Range

The difference between the highest and lowest values in a set of data or, in functions, the set of all possible output values.