Explain the difference between (hat{beta}_{1}) and (beta_{1}); between the residual (hat{u}_{i}) and the regression error (u_{i}); and
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Explain the difference between \(\hat{\beta}_{1}\) and \(\beta_{1}\); between the residual \(\hat{u}_{i}\) and the regression error \(u_{i}\); and between the OLS predicted value \(\hat{Y}_{i}\) and \(E\left(Y_{i} \mid X_{i}\right)\).
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The difference between hatbeta1 and beta1 hatbeta1 pronounced beta hat one is the estimate of the coefficient beta1 obtained through ordinary least sq...View the full answer
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