Question: If a regression equation omits a relevant variable, the parameter estimates will typically be a. Consistent and unbiased but inefficient b. Consistent and asymptotically efficient

If a regression equation omits a relevant variable, the parameter estimates will typically be

a. Consistent and unbiased but inefficient

b. Consistent and asymptotically efficient but biased

c. Inconsistent, biased and inefficient

d. Consistent, and efficient but biased in small samples

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