1. What are non-spherical disturbances?
2. What is panel data? How does it differ from cross-sectional
3. What is time-series data? How does it differ from cross-sectional data?
4. Describe the different types of probability models. Under what conditions are they used?
5. Why must we weight the residuals when analyzing proportions data (with the logit model)?
1 1. What are non-spherical disturbances?In a standard OLS structure, it is presumed that the imminent variances of errors are alwaysstable and invariant. In such cases, assuming…