1. (21 points) You have the following small dataset with information on ACT scores and college GPA for ve students. Student GPA ACT 1 2.7 23 2 3.4 27 3 3.1 26 4 3.5 25 5 3.8 30 Suppose you would like to estimate the following simple regression: GPA=IBQ+1ACT+u 1.1. What is the slope estimate, 31? 1.2. What is the intercept estimate, g? 1.3. What is the fitted value for student 2? 1.4. What is the residual for student 3? 1.5. What is the error term for student 3? (a) It is the same as the residual for student 3 (b) It is unknown 1.6. What is the average of the residuals, % 215:1 21? 1.7. By how much does predicted GPA change if the ACT score is increased by 5 points