Week 5-6: The Multiple Linear Regression Model (MLRM)

The general format of MLR model, Assumptions of model with special reference to the independence of the explanatory variable, Estimation of a model with 3-4 explanatory variables using the OLS procedure, Interpretation of the estimated coefficients, Computation, of elasticities The degree of freedom and adjusted R2, The explanatory power of the model and ‘Goodness of Fit’, Hypothesis testing in MLR, Overall significance of the regression and the use of F-statistics, Economic theory and econometric modelling.

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