Consider a simple linear model Y; = ,81 + 32X} + 14;. Suppose that we have a samplewith 30 ' observations and run OLS regression to get the estimates for .81 and )62. We get ,8; = 3.5, N _ XXX.- X )2 = 175, TSS = 560 (total Slim. of squares), and RSS = 340 (residual sum of i=1 , squares). A 1. [2 points] Calculate the standard error of g. 2. [4 points] Test the null hypothesis Ho : ,82 = 3 against the alternative hypothesis H1 : 32 75 3 (use 5% signicance level). 3. [4 points] How do we measure the goodness of t of a regression? What can you say about the goodness of t of this regression given the information above