Question: This doet Nese do te doo 2 4 5 Pledono Car (i) Price (Y, in 1000 dollars) | Odometer (XR meters) 1. 2 points Calculate

This doet Nese do te doo 2 4 5 Pledono Car (i) Price (Y, in 1000 dollars) | Odometer (XR meters) 1. 2 points Calculate the samples for 2. 8 points) Calculate the OLS estimates B, and B2. You must show your calculati Sompile4 points Calonlate the standard error of B2. Suppose that we want to estimate the following regression modeli = B1 + B2X + Wir where Y is the price in 1000 dollars) of a used car, and X; is its odometer reading in 10,000 kilometers. We have six observations: 1 Y1 = 27 X1 = 2 Y, = 28 X2 Y; = 20 Y = 22 X = 8 Y; = 13 X3 = 10 Y6 = X6 = 12 Answer the following questions: mean of Y and X, i.e., calculate Y and X. 3. (2 points) What is the interpretation ? 4. (4 points) Compute the fitted values and residuals for each observation, and verify that the residuals sum to zero (approximately). 5. (6 points) How much of the variation in price for these six cars is explained by odome- ter reading? 7. (4 points) is the price of a used car affected by odometer reading? Perform the relevant test and conclude (mse 5% significance level Pleer doc of Ple This doet Nese do te doo 2 4 5 Pledono Car (i) Price (Y, in 1000 dollars) | Odometer (XR meters) 1. 2 points Calculate the samples for 2. 8 points) Calculate the OLS estimates B, and B2. You must show your calculati Sompile4 points Calonlate the standard error of B2. Suppose that we want to estimate the following regression modeli = B1 + B2X + Wir where Y is the price in 1000 dollars) of a used car, and X; is its odometer reading in 10,000 kilometers. We have six observations: 1 Y1 = 27 X1 = 2 Y, = 28 X2 Y; = 20 Y = 22 X = 8 Y; = 13 X3 = 10 Y6 = X6 = 12 Answer the following questions: mean of Y and X, i.e., calculate Y and X. 3. (2 points) What is the interpretation ? 4. (4 points) Compute the fitted values and residuals for each observation, and verify that the residuals sum to zero (approximately). 5. (6 points) How much of the variation in price for these six cars is explained by odome- ter reading? 7. (4 points) is the price of a used car affected by odometer reading? Perform the relevant test and conclude (mse 5% significance level Pleer doc of Ple

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