Question: 10.1 Define panel data. What is the advantage of using such data to make statistical and economic inferences? Why is it necessary to use two

10.1 Define panel data. What is the advantage of using such data to make statistical and economic inferences? Why is it necessary to use two subscripts, i and t, to describe panel data? What does i refer to? What does t refer to?

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10.1 What is meant by panel data? What is the advantage of using such data to make statistical and economic inferences?

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