Question: 2) If a regression equation contains an irrelevant variable, the parameter estimates will be, (10 points) (a) Consistent and unbiased but inefficient (b) Consistent and

2) If a regression equation contains an irrelevant variable, the parameter estimates will be, (10 points)

(a) Consistent and unbiased but inefficient

(b) Consistent and asymptotically efficient but biased

(c) Inconsistent

(d) Consistent, unbiased and efficient.

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