Consider the regression C, = B. +2C–+, (*) t- (a) If the error term ε, is independently and identically distributed (iid

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Consider the regression C, = B. +2C–+, (*) t- (a) If the error term ε, is independently and identically distributed (iid) with mean 0 and constant variance, and E(Ę,C-1) = 0, i.e., the error is not correlated with C-1, is the OLS estimator of the coefficients in (*) unbiased and consistent? Explain your answer. 't-