Question: 9. Briefly explain why first-differencing is useful to control for fixed unobserved characteristics in a re- gression. 10. Suppose that Y ~ N(0. 1). Find

9. Briefly explain why first-differencing is useful to control for fixed

9. Briefly explain why first-differencing is useful to control for fixed unobserved characteristics in a re- gression. 10. Suppose that Y ~ N(0. 1). Find E[Y|Y

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