Question: Problem 10.1 (a) Draw the scatter plot for the following artificial data. x: 0 0 1122 y: 0 1 1323 (b) Sketch a straight line

Problem 10.1

(a) Draw the scatter plot for the following artificial data. x: 0 0 1122 y: 0 1 1323

(b) Sketch a straight line that seems to satisfactorily fit these points. Denoting the equation of your line by y = b0 + b1x find the values of b0, b1.

(c) Calculate the least squares line y = βˆ0 + βˆ1x.

(d) Is the line you obtained in part

(b) close to the least squares line obtained in part (c)?

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