Question: Explain the difference between (hat{beta}_{1}) and (beta_{1}); between the residual (hat{u}_{i}) and the regression error (u_{i}); and between the OLS predicted value (hat{Y}_{i}) and (Eleft(Y_{i}

Explain the difference between $\hat{\beta}_{1}$ and $\beta_{1}$; between the residual $\hat{u}_{i}$ and the regression error $u_{i}$; and between the OLS predicted value $\hat{Y}_{i}$ and $E\left(Y_{i} \mid X_{i}\right)$.

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The difference between hatbeta1 and beta1 hatbeta1 pronounced beta hat one is the estimate of the coefficient beta1 obtained through ordinary least sq... View full answer

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