In estimating the effect of education (X) on wages (Y) in Ghana, a researcher estimated equation 1.1 instead of equation 1.2, thus omitting an important variable, the experience of the person (Z). Show the effect of this omitted variable on the estimated coefficient and summarize the direction of the bias. Y = Bo+ BiX- Y = 60+ 61X + 62Z (1.1) (1.2)/

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Matrices

‘Matrices’ is the plural form of the word matrix, and it is basically a spreadsheet in the form of a box. In mathematics, various functions can be carried out with matrices. Generally, a matrix comes in the shape of a square or rectangle. The elements are distributed horizontally in the form of rows, and vertically in the form of columns.