Question: Write a short note explaining the following five econometric subjects. Use examples and illustrations inyour answers where possible. (a) The law of large numbers. (b)

Write a short note explaining the following five econometric subjects. Use examples and illustrations inyour answers where possible. (a) The law of large numbers. (b) Regression to the Mean. (c) Statistical vs. economic significance. (d) Multicollinearity in linear regression models. (e) Measurement error.

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