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    Question

    Which of the following is true about Omission(Overfitted) and Inclusion(Underfitted) type of the specification error

    A In Omission and Inclusion, the estimates are biased Correct Answer Incorrect Answer
    B Omission leads to inconsistent estimates whereas in Inclusion estimates are consistent Correct Answer Incorrect Answer
    C The variance of estimates in Omission is biased whereas in Inclusion it is unbiased Correct Answer Incorrect Answer
    D Both (b) and (c) Correct Answer Incorrect Answer

    Solution

    The estimate is Omission is biased where it is unbiased in Inclusion Both (b) & (c) are correct.

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