Question: 2. Suppose we have a variable y = regional consumption, and variable x = regional income, both expressed in thousands of dollars and assume further

2. Suppose we have a variable y = regional consumption, and variable x = regional income, both expressed in thousands of dollars and assume further the regression model y = bx +

e. What are the consequences on the OLS estimator of b (say bˆ) of expressing the income in millions of dollars instead? What happens if the consumption is also expressed in millions of dollars?

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