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truncated sample


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A sample from which some observations have been systematically excluded, in other words, a sample drawn from a restricted part of a population, rather than from the entire population. An example is a sample of households with income below a certain level: the households with income above that specified level are systematically excluded. In this case, if the dependent variable is income, applying ordinary least squares to the truncated sample renders the estimators inconsistent.

Subjects: Economics.


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