Question: Explain why we need to test for heteroscedasticity, and explain what are the consequences of heteroscedasticity with respect to (4 marks) a.coefficient unbiasedness and consistency

Explain why we need to test for heteroscedasticity, and explain what are the consequences of heteroscedasticity with respect to (4 marks)

a.coefficient unbiasedness and consistency

b.standard errors of the coefficients

c.p-values

d.t-statistics and F-statistics

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