Introduction to Asymptotic Theory Lemma 4.1 [Weak Law of Large Numbers (WLLN)for an IID Random Sample]: Suppose (Z}is IID(u,2),and define Zn =nZ,n =1,2..... Then ZmB4asn→o. Proof:For any given constant e>0,we have by Chebyshev's inequality Pr1Z-川>)≤E2-四2 E2 03 ne2→0asno. Hence, Zn B u as n→o. ADVANCED ECONOMETRICS Linear Regression Models with IID Observations March 31,2021 9ADVANCED ECONOMETRICS Linear Regression Models with IID Observations March 31, 2021 9 Introduction to Asymptotic Theory Lemma 4.1