![]() The violation of this assumption in the classical regression makes the inference on the coefficient to be invalid due to inflated standard error. One of the stringent of these assumptions is that the error terms in the model should be independent. However, the reliability of OLS results depends on certain assumptions commonly called the “Gauss Assumption”. The ordinary least squared regression (OLS) has become a household name in many disciplines, especially when there is a need to investigate the cause and effect relationship between a response variable and one or more covariates 1.
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