Question: Question 1: (8 marks) Do not write more than five (5) sentences for your answer to each question. a) What is homoskedasticity? What is its

Question 1: (8 marks) Do not write more than five (5)

Question 1: (8 marks) Do not write more than five (5) sentences for your answer to each question. a) What is homoskedasticity? What is its implication for the properties of the OLS estimators? (3 marks) b) Explain in words the premise of OLS estimation (how are the OLS estimators derived)? (2 marks) c) What is multicollinearity? What is its implication for the properties of the OLS estimators

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