Solve clearly

2. Calculating OLS estimates (30 points) X 30 40 50 80 10 35 30 Suppose you estimate a regression of the following population model, Y, = Bo + BIX, + u;. (a) Find the sample means of X and Y. (b) Find EL, (X, - X)(Y, - Y) and EL, (X, - X)?. (c) Use your answer from (b) to calculate S1. Show your steps. (d) Use your answer from (c) to calculate Bo. Show your steps. (e) Explain in your own words what , means in terms of units of X and Y. (f) Use your calculations about So and &, to find the fitted Y, P.. (g) Calculate the residuals, u,. (h) Calculate the Total Sum of Squares (TSS) (i) Calculate the Residual Sum of Squares (RSS). (j) Calculate R?. What does it tell us about the relationship between X and Y