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If the spherical errors assumption fails to hold, there are two problems with OLS. There is a better estimator available—one that is still unbiased, but is less sensitive to sampling variation (i.e., has lower standard errors). The formula we use to estimate the standard errors of OLS is invalid. Our confidence intervals and hypothesis tests will (usually) be overconfident, overstating the precision of our results. Spherical errors fails when we have either or both of: Heteroskedasticity and Autocorrelation
The establishment of Agriculture Insurance Company of India Limited (AIC) was announced in which General Budget speech?
A term policy that can be converted to permanent coverage rather than expiring on a specific date is called _________.
What is the purpose of a deductible in an insurance policy?
Which of the following is insurable?
The principle of "subrogation" in insurance refers to:
The contractual term for the premium in an insurance contract is known as:
What is a Coverage protecting property against losses caused by a fire or lightning that is usually included in home owners or commercial multiple peri...
What does the term "insured" refer to in insurance?
A provision added to a home owners insurance policy that automatically adjusts the coverage limit on the dwelling each time the policy is renewed to ref...
In relation to insurance sector, what is the full form of FPR?
