Question: Suppose we have data on two variables for three individuals. Our data is: individual X Y 1 4 3 2 2 5 3 1

Suppose we have data on two variables for three individuals. Our data

Suppose we have data on two variables for three individuals. Our data is: individual X Y 1 4 3 2 2 5 3 1 10 We estimate the following population model using Ordinary Least Squares: Y = + Bi Xi trn a) Find the estimates of 30 and 31 b) Find the predicted values of Y for each of out three individuals. c) Find the predicted values of residuals for each of out three individuals.

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ANSWER a To estimate the coefficients we first need to set up the model in matrix form Y X B u where ... View full answer

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