Question: Suppose we have the following observations on a dependent variable (Y) and an explanatory variable (X): X Y 0 2 1 5 2 8 3

Suppose we have the following observations on a dependent variable (Y) and an explanatory variable (X): X Y 0 2 1 5 2 8 3 11 4 19 Calculate the simple regression equation by hand. Provide the goodness of fit measures we discussed in lecture. Conduct the three goodness of fit tests at the 0.05 level to determine whether it is a good or bad regression model

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