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(Requires Appendix material)Your textbook shows that OLS is a linear estimator 1 =
,where
.For OLS to be conditionally unbiased,the following two conditions must hold:
and
= 1.Show that this is the case.
Negotiable Instrument
A written document guaranteeing the payment of a specific amount of money to a specified person, which can be transferred by endorsement or delivery.
Dishonored
A term used to describe a financial instrument, such as a check or promissory note, that has been refused acceptance or payment.
Personal Defense
A liability defense that is not applicable to holders in due course.
Modification
A change or alteration, often to a contract or agreement, altering its terms or conditions.
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