For each of the following situations, determine the sign of the expected bias introduced by omitting...

 

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For each of the following situations, determine the sign of the expected bias introduced by omitting a variable. i. In an equation for the demand for cooking oil, the impact on the coefficient of disposable income of omitting the price of cooking oil. (3) ii. In a production function for cars, the impact on the coefficient of labour of omitting the capital variable For each of the following situations, determine the sign of the expected bias introduced by omitting a variable. i. In an equation for the demand for cooking oil, the impact on the coefficient of disposable income of omitting the price of cooking oil. (3) ii. In a production function for cars, the impact on the coefficient of labour of omitting the capital variable