In Econometrics, We Typically Do Not Rely on Exact or Finite

question 60

Short Answer

In econometrics, we typically do not rely on exact or finite sample distributions because a. we have approximately an infinite number of observations (think of re-sampling).
b. variables typically are normally distributed.
c. the covariances of $Y _ { i } , Y _ { j }$ are typically not zero.
d. asymptotic distributions can be counted on to provide good approximations to the exact sampling distribution (given the number of observations available in most cases).

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