(Requires Appendix Material)Your Textbook Shows That OLS Is a Linear $\hat { \beta }$

question 20

Essay

(Requires Appendix material)Your textbook shows that OLS is a linear estimator $\hat { \beta }$ ₁ = $\sum _ { i = 1 } ^ { n } \hat { a } _ { i } Y _ { i }$ , where $$\hat { a } _ { i } = \frac { \bar { X } _ { i } - \bar { X } } { \sum _ { i = 1 } ^ { n } \left( X _ { i } - \bar { X } \right) ^ { 2 } }$$ For OLS to be conditionally unbiased, the following two conditions must hold: $\sum _ { i = 1 } ^ { n } \hat { a } _ { i } = 0$ and $\sum _ { i = 1 } ^ { n } \hat { a } _ { i } \bar{X} _ { i }$ = 1. Show that this is the case.

Understand the different types of controls (feedback, feedforward, and concurrent) and their relevance to the input-throughput-output cycle of an organization.

Identify how controlling assists in ensuring that organizational activities are in alignment with set plans and objectives.

Recognize the importance of both internal and external control strategies for effective organizational control.

Distinguish between the central questions and focuses of feedforward, concurrent, and feedback controls.

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Definitions:

Workforce Diversity

The inclusion of a wide range of people of different races, genders, ages, ethnicities, sexual orientations, and physical abilities in the workplace.

National Origin

Refers to the country or geographical region where an individual was born or where their ancestors originated.

High-performing Companies

Organizations that consistently achieve and exceed their operational and financial goals through innovation, efficiency, and effective management.

Extraordinary Results

Outcomes that surpass the standard or expected performance levels, often achieved through innovative strategies or exceptional effort.