Prove That Under the Extended Least Squares Assumptions the OLS

question 10

Essay

Prove that under the extended least squares assumptions the OLS estimator is unbiased and that its variance-covariance matrix is (X'X)-1.

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Definitions:

High-performance Work Systems

A set of management practices designed to create an environment where employees can effectively utilize their skills and abilities to achieve high levels of performance.

Social System

An organized and interdependent set of roles, norms, and processes that people use to interact and cooperate within a society or a specific group.

Technical System

Integrated collection of technological tools, processes, and procedures used within an organization to achieve business objectives.

Virtual Teams

Groups of people who work together from different geographical locations and rely on communication technology to collaborate.