Question: For a panel data regression model, fixed effects estimator is based on a data transformation, in which each observed variable for each individual unit is

For a panel data regression model, fixed effects estimator is based on a data transformation, in which each observed variable for each individual unit is a. demeaned, with its overall average across all observations being taken out. b. demeaned, with its average over all time periods for that unit being taken out. c. first differenced, with its lagged value being subtracted off. d. none ofthe above

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