Question: You decide to run a multiple regression to estimate the price of houses in your area. You include variables like number of bedrooms and bathrooms,

You decide to run a multiple regression to estimate the price of houses in your area. You include variables like number of bedrooms and bathrooms, lot size, and age of the house. However, you forgot to include a very important variable - the size of the house in square feet. Why is your regression likely to give you unreliable results? O Your regression is biased. O your results are economically significant, but not statistically significant. You need to use a different model with just 2 variables. O You are considering variables that are statistically insignificant Which of the following statements regarding probability sampling procedures is incorrect? Each member of the population has a known, equal, and non-zero chance of being included in the sample. O It is the ideal sampling procedure. Systematic and cluster sampling procedures are two examples of probability sampling procedures. o One can control for random sampling error even without a probability sampling procedure

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