One оf the dоctоrаl students аt your new institution who is аbout to collect data is worrying about potential endogeneity in his/her SEM model. Please help the student with the following. Please explain the sources of endogeneity in general. (10 points) Please identify and briefly explain various ways to mitigate the potential endogeneity issue. (10 points) One of the common approaches to endogeneity in Econometrics is to use an instrumental variable. Please explain thoroughly how an instrumental variable alleviates endogeneity in a regression model. In answering this question, please explain the mechanism of how an instrumental variable works in handling endogeneity explicitly. (20 points) Finally, please explain various statistical tests surrounding endogeneity, their objectives clearly, and why each of those tests is important. (20 points)