One of the "consequences of error of measurement in the regressand is increased variance of the estimators". Formulate a scenario and provide proof of this statement. (4) 5. Consider a two-variable model where consumption as a regressand and income as a regressor. (a) Name the parameter that is used to measure the spread of the values from their expected values? (2) (b) Suppose, a researcher is interested in measuring the strength of the relationship between consumption and income, name the parameter one can use to quantify this relationship? (2) 6. Assuming a three-variable model Y₁ = a₁ + a₂X2 + a3X3, where a₂ and as are partial regression coefficients. You have been asked in a job interview to briefly describe the meaning of the two parameters in this context.