The equation for a straight line (deterministic model) is y = 0 + 1x If the line
Question:
y = β0 + β1x
If the line passes through the point (-2, 4), then x = -2, y = 4 must satisfy the equation; that is,
4 = β0 + β1(-2)
Similarly, if the line passes through the point (4, 6), then x = 4, y = 6 must satisfy the equation; that is,
6 = β0 + β1(4)
Use these two equations to solve for β0 and β1; then find the equation of the line that passes through the points (-2, 4) and (4, 6).
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The two equations are 4 0 1 2 and 6 0 1 4 S...View the full answer
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Related Book For
Statistics For Business And Economics
ISBN: 9780321826237
12th Edition
Authors: James T. McClave, P. George Benson, Terry T Sincich
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