Regression without any regressor. Suppose you are given the model: Y i = 1 + u
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Regression without any regressor. Suppose you are given the model: Yi = β1 + ui.
Use OLS to find the estimator of β1. What is its variance and the RSS? Does the estimated β1 make intuitive sense? Now consider the two-variable model Yi = β1 + β2Xi + ui . Is it worth adding Xi to the model? If not, why bother with regression analysis?
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Write the sample regression as Y i 1 u 1 By LS principle we want to minimize ui 2 Yi 12 Difference t...View the full answer
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