[10 points] Explain how the assumptions needed for the Gauss-Markov theorem to apply are changed when there is a stochastic regressor. Consider the…

5. [10 points] Explain how the assumptions needed for the Gauss-Markov theorem to apply are changed when there is a stochastic regressor. 6. Consider the following simultaneous equations model. (a) [5 points] How would you estimate the parameter ? Is it identified? (b) [5 points] How would you estimated the parameter ? Is it identified?