The true model is Y * i = β 1 + βX * i + u i
Question:
Y*i = β1 + βX*i + ui €¦€¦€¦€¦€¦€¦€¦€¦€¦€¦€¦.. (1)
But because of errors of measurement you estimate
Yi = α1 + α2Xi + vi €¦€¦€¦€¦€¦€¦€¦€¦. (2)
where Yi = Yˆ—i+ εi and Xi = Xˆ—i + wi , where εi and wi are measurement errors.
Using the data given in the following table, document the consequences of estimating model (2) instead of the true model (1).
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The results of the regression of Y on X both mea...View the full answer
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