Question: Question 3 [4] (Section 2.7.1) You wish to estimate as precisely as possible the slope :63 in a straight line regression model y:o+ls+e_ Each pair

Question 3 [4] (Section 2.7.1) You wish to estimate as precisely as possible the slope :63 in a straight line regression model y:o+ls+e_ Each pair of observations (33] y) costs $ 1.00 and your budget is $ 4-00. A data analyst proposes that you consider one of the following two options: (a) Make two yobservations at m = l and a further two at x = 4; (b) Make one yobservation at each of the points x = l} 2, 3 and 4. lWhich of the two options would give you the most bang for your bucks? Show a relevant calculation to justify your choice

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