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What do you understand by the term ‘autocorrelation’?
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- What is the variable that adjusts the effect of the independent variable on the dependent variable (one word)n one sentence, what does it mean for an estimator to be consistent? (Hint: you do not need to state the formal definition of consistency)The demand for goods and services is essentially influenced by several things, state and explain and make the relationship between variables statistically between independent variables and dependent variables!