Statistics for Data Science and Business Analysis - A2. No Endogeneity

The video tutorial discusses omitted variable bias in regression analysis, explaining how it occurs when a relevant variable is not included in the model, leading to biased and counterintuitive results. An example involving real estate pricing in London illustrates the issue, showing how the omission of a location variable skewed results. The tutorial emphasizes the importance of including all relevant variables to avoid bias and suggests strategies for identifying and correcting omitted variable bias.

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