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The equation for a straight line (deterministic model) is y = 0 + 1x If the line passes through the

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The equation for a straight line (deterministic model) is
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 …View the full answer


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Statistics For Business And Economics

Statistics For Business And Economics

ISBN: 9780321826237

12th Edition

Authors: James T. McClave, P. George Benson, Terry T Sincich

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Question Posted: April 07, 2016 08:15:51
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