Consider a regression of y on x1, x2 and x3. You are told that x1 and x3 are positively
correlated but x2 is uncorrelated with the other two variables.
(a) [3] What, if anything, can you say about the relative magnitudes of the estimated
coefficients on each of the three explanatory variables?
(b) [6] What, if anything, can you say about the precision with which we can estimate
these coefficients?
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