Question: What five assumptions are usually made about the unobservable error terms in the classical linear regression model (CLRM)? Briefly explain the meaning of each. Why

What five assumptions are usually made about the unobservable error terms in the classical linear regression model (CLRM)? Briefly explain the meaning of each. Why are these assumptions made?

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a) Discuss the five assumptions usually made about the unobservable error terms in the classical linear regression model (CLRM)? Why are these assumptions made? b) Discuss the stages in methodology...

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