(Answered) 1 what is ordinary least squares what is maximum likelihood

Economics

1. What is Ordinary Least Squares? What is Maximum Likelihood Estimation?

2. What are the Gauss-Markov assumptions?

3. Why are the OLS estimates of regression coefficients equal to the MLE estimates?

4. What is the standard error of regression? What is the standard error of a regression coefficient?

5. Why doesn't OLS provide us with an estimate of the standard error?

6. What is the relationship between MLE's second-order conditions and the standard errors of the coefficient estimates?

7. How do the MLE second-order conditions provide us with estimates of:

(a) the standard error of the regression?

(b) the standard error of the regression coefficents?

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