Your Textbook Derives the OLS Estimator As Show That the Estimator Does Not Exist If There Are

question 38

Essay

Your textbook derives the OLS estimator as $\hat { \boldsymbol { \beta } } = \left( \boldsymbol { X } ^ { \prime } \boldsymbol { X } \right) ^ { - 1 } \boldsymbol { X } ^ { \prime } \boldsymbol { Y }$ Show that the estimator does not exist if there are fewer observations than the number of
explanatory variables, including the constant.What is the rank of X′X in this case?

---

Definitions:

Leadership Antiprototype

An individual who embodies the opposite qualities of what is traditionally viewed as effective leadership, often lacking in vision, inspiration, or ethical standards.

Tyranny

A form of government in which a single ruler holds absolute power and often uses it in a cruel or oppressive way.

Apprising

Influence tactic in which influence agent explains how carrying out a request or supporting a proposal will benefit the target personally, including advancing the target’s career.

Influence Tactic

An Influence Tactic involves strategies or methods used by individuals or leaders to guide or shape others' beliefs, attitudes, or behaviors towards desired outcomes.