In the other interpretation (fixed design), the regressors X are treated as known constants set by a design, and y is sampled conditionally on the values of X as in an experiment. For practical purposes, this distinction is often unimportant, since estimation and inference is carried out while conditioning on X. This contrasts with the other approaches, which study the asymptotic behavior of OLS, and in which the number of observations is allowed to grow to infinity..
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