National open university of nigeria introduction to econometrics I eco 355

 
5.0 
CONCLUSION 
In any research, the researcher should clearly state the sources of the data used in the 
analysis, their definitions, their methods of collection and amy gaps or omissions in the 
data as well as any revisions in the data. 
6.0 TUTOR MARKED ASSESSMENT EXERCISE 
 
1.
Discuss the term ―Regression Analysis‖ 
2.
Differentiate between regression and correlation 
7.0 
REFERENCES/Further Reading 
 
Dimitrios, A & Stephen, G., (2011). Applied Econometrics, second edition 2011, first
edition 2006 and revised edition 2007. 
 

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48 
Emmanuel, E.A., (2014). Introduction to Econometrics, 2
nd
edition, World gold
Publication limited. 
 
 
 
 
 
UNIT 2 
THE ORDINARY LEAST SQUARE (OLS) METHOD OF 
ESTIMATION 
 
CONTENTS 
 
1.0.
Introduction 
2.0.
Objectives 
3.0.
Main content 
3.1. The Method of Ordinary Least Square (OLS) 
3.2. Properties of OLS 
4.0 
Conclusion 
5.0 
Summary 
6.0
Tutor-Marked Assignment 
7.0 
References/Further Readings 
 
 
 
 
1.0 
INTRODUCTION 
Ordinary Least Square (OLS) method is used extensively in regression analysis primarily 
because it is intuitively appealing and mathematically much simplier than the method of 
maximum likelihood. 
 
2.0. OBJECTIVES 
At the end of this unit, you should be able to: 

differentiate the dependant and independent variables. 

prove some of the parameters of ordinary least estimate.