Give an unbiased estimate for the error variance in the situation of problem 10€“11. In this problem and others, you may either use a computer or do the computations by hand.

In problem An article in the Journal of Monetary Economics assesses the relationship between percentage growth in wealth over a decade and a half of savings for baby boomers of age 40 to 55 with these people's income quartiles. The article presents a table showing five income quartiles, and for each quartile there is a reported percentage growth in wealth. The data are as follows.

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Income quartile: Wealth growth (%): 17.3 23.6 40.2 45.8 56.8