The course covers the consequences of and tests for violation of assumptions of classical linear regression model.
Meaning, reasons, consequences, detection and remedies of the problem of multicolliearity.
Meaning, reasons, consequences, detection and remedies of the problem of heteroscedasticity.
Meaning, reasons, consequences, detection and remedies of the problem of serial correlation.
Specification error- omission of a relevant variable; inclusion of irrelevant variable; tests of specification errors.
Nature of dummy variables; uses of dummy variable.