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b. Consider the model Y, = BX; te;, for i = 1, . .., n where 61. . ... 6,, are iid with mean 0

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b. Consider the model Y, = BX; te;, for i = 1, . .., n where 61. . ... 6,, are iid with mean 0 and variance o. 1. With observed data (y., X; ) for i = 1, ..., n, obtain the least squares estimate of B. 2. Based on a specific data set, Kane obtained the 3 = 2. Then Kane claims that for the observed Y = 10, the predicted X is 5. Do you agree with Kane? Why

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