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Define and briefly explain the nature and structure of the following terms.
Pooling of cross sections and longitudinal data
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- Explain what multicollinearity . What are the main problems that multicollinearity creates for OLS estimation results ? Give two ways to detect multicollinearity problem and the hypothesis that are tested ?Explain the term Panel Data or longitudinal data?__________ looks for underlying patterns in the data by examining the data at a more detailed level in order to examine potential correlations. Multiple Choice Summarizing data Descriptive analytics Drill-down detailed analytics Fuzzy matching
- What are some types of longitudinal surveys? Select all the apply. Question 2 options: Trend survey Panel survey Cohort survey Cross-sectional surveyDefine and briefly explain the nature and structure of the following terms. Cross sectional data and time series data.How does it reconcile cross-sectional data with that from time series macroeconomic data