Question: Question 2 1) Please explain briefly how do we find the optimal B0 and B1 using the ordinary least square (OLS) method in linear regression?

Question 2 1) Please explain briefly how do we find the optimal B0 and B1 using the ordinary least square (OLS) method in linear regression? 2) You wish to find whether a person has/does not have diabetes based on his cholesterol level and body weight. Is it appropriate to use linear regression for this problem? Justify your answer. 3) Consider that you want to model the salary of people (dependent variable) based on their number of years of experience and IQ level (independent variables). You perform linear regression and get the following result

Salary = 5+ 3(Experience) +2(IQ Level)

Where B0=5, B1=3, B2=2 Looking at this equation, can we conclude that the role of experience is more important than the role of IQ level for determining salary? Justify. Also, what is the interpretation of intercept B0 in this context?

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