1.2 Explain in your words how you test serial correlation with strictly exogenous variables (3) 1.3 Explain In your own words, the concept of serial correlation and implications for inferences in econometrics (2) 1.4 Comment on the following theorem and assumption underlying the method of OLS: (2) (a) Gauss Markov theorem (b) Limear in parameters 1.5 Explain in your own words what is meant by the following: (2) (a) Covariance stationary process (b) Dynamically complete model