"One Should Never Bother with WLS

question 4

Essay

"One should never bother with WLS. Using OLS with robust standard errors gives correct inference, at least asymptotically." True, false, or a bit of both? Explain carefully what the quote means and evaluate it critically.

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Definitions:

Rough Draft

A Rough Draft is an early version of a written document, used for brainstorming and organizing ideas before producing a final version.

Compactly

In a manner that uses space efficiently, often referring to the concise and effective arrangement of information or objects.

Common Scale

A standardized measurement or grading system used to compare different items or phenomena on the same basis.

Bar Graph

A graph displaying information using bars of different lengths, where each bar's length directly corresponds to its value.