If the demand curve for wheat in the United States is P=12.
September 3, 2020
Please answer the questions on the attached template.
September 3, 2020

COMMENTS: kindly asking for some guidelines on how to solve the weighted least squares and derive the Variance of a Heteroschedastic model

Question twoConsider the following modelY =ax, +4 : 1=12_.Twhere Equ,)=0,E(4)=o’X; and Eluu, )=0 if sat for all s,t= 12…., T. The values of X arefixed in repeated samples(n) Derive the weighted least squares (WLS) estimator a of a, and also derive thevorion:co of ox(by Is the WLS estimator of a consistent? Explain your answer.(8 marks)

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