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Explain What Is Meant by Specification Bias

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Explain what is meant by specification bias.What effects does specification bias have on the results of a regression?


Definitions:

Communication Initiatives

Efforts or strategies implemented to improve or facilitate effective communication within an organization.

Competitors

Other businesses or entities that offer similar products or services, competing for the same market share.

Effective Hotlines

Confidential channels through which individuals can report unethical behavior or seek guidance on ethical dilemmas.

Anonymous Basis

Conducting activities or making communications without revealing one's identity, often for privacy, safety, or confidentiality reasons.

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