The Probability Limit of the OLS Estimator in the Case

question 34

Essay

The probability limit of the OLS estimator in the case of omitted variables is given in your text by the following formula: $\hat { \beta } _ { 1 } \stackrel { p } { \rightarrow } \hat { \beta } _ { 1 } + \rho _ { \mathrm { X } } \frac { \sigma _ { u } } { \sigma _ { \mathrm { X } } }$ Give an intuitive explanation for two conditions under which the bias will be small.

Understand the concept of a financial lease and its implications for both lessee and lessor.

Explain the factors leading to the proliferation of consumer auto leasing.

Understand the financial considerations and formulas involved in lease versus buy decisions.

Explain the concept of a leveraged lease and its impact on the involved parties.

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