Question: Question One [25] a. Briey explain how you would resolve the following issues if encountered in the course of econometric data analyses: i. One of

Question One [25] a. Briey explain how you would resolve the following issues if encountered in the course of econometric data analyses: i. One of the independent variables is suspected to be endogenous within the model. ii. The regression parameters are not statistically significant but the adjusted coefficient of determination is very high. iii. Breusch-Pagan test is statistically significant. iv. The adjusted r square is low and many of the parameters are not statistically significant. v. The F test is not statistically significant. [15] b. Show whether the following stochastic models are linear or non-linear using some appropriate transformations where possible: [10] a. Y = e0+1Xi+ui 1 b' Yi _ 1_eo+lXi+ui 1 C. Yi = o+1lxi"ui d. yi = L oilxi'iur e. Y- L 1exp 'U'1Xl-+ui

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