Question: Suppose that a straight line y = 1 + 2x is to be fitted to the n points (x1, y1), . . . , (xn,

Suppose that a straight line y = β1 + β2x is to be fitted to the n points (x1, y1), . . . , (xn, yn) in such a way that the sum of the squared perpendicular (or orthogonal) distances from the points to the line is a minimum. Determine the optimal values of β1 and β2.

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