Based on the information given, it should be noted that we will have an omitted variable bias, therefore, it's true.
<h3>What is an omitted variable?</h3>
An omitted variable simply occurs when a statistical model that occurs when one or more relevant variable is left out.
It should be noted that we will have omitted variable bias if we leave out a RHS variable that affects the LHS variable, even in a situation where there is no correlation between the omitted RHS variable and the included RHS variables.
For omitted variable bias to occur, it should be noted that the omitted variable will be correlated with the included regressor.
Learn more about omitted variable on:
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Answer:
$5.94
Step-by-step explanation:
Multiply 2.75 by $0.76 to get $2.09
Multiply 2.75 by $1.40 to get $3.85
Add $3.85 and $2.09 to get $5.94
It would be the same as moving the decimal three to the right, and that applies to everything, not just the metric system.
Assessed Value = (Fair Market Value) x (0.40) Where 0.40 is the decimal equivalent of 40%. Tax Rate = $5.24/$100 of assessed value = $0.0524 per dollar of assessed value. Taxes = (Assessed Value) x (Tax Rate) = (Assessed Value) x ($0.0524) Hope this helps!
