Question 2 Parts A and B are unrelated A. Suppose a random variable Y has mean u and variance o?. Consider the following estimators of the population mean from random samples of size N. Y = 3+ (Y1/3N)+ [(Y2 + Y3 +Y4+....+YN)/(N-1)] and Y* = 0.5Y, + 0.25Y2 + [0.25(Y3 +Y4 +.....+YN)/(N-2)] 1. Are these estimators unbiased? What are their variances. (3 points) 2. Demonstrate that each estimator is inconsistent, but in different ways. Explain clearly. (4 points) B. A researcher interested in predicting the net income of large corporation predict Y ($ million) from sales X ($ million), obtained the following OLS equation using data on 33 of the largest corporations listed in FORTUNE 500. y = 24.52 + 0.0466x, x = 3238.8, Z(y; - V) 2 = 4,475,819, ze ? = 218,420 1. Assess the fit of the model by computing R2. (1.5 points) 2. Calculate the mean of y and the mean of y. (1.5 points)