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: Your friend is showing you a project he is working on. You see that he wants to estimate an equation by OLS: Y=Bo+B1X+B2(x+2)

: Your friend is showing you a project he is working on. You see that he wants to estimate an equation by OLS: Y=Bo+B1X+B2(x+2) (a) Explain why it is a bad idea to estimate such an equation. (b) You proposed to estimate the equation: Y = Bo +BX Your friend insisted to estimate the equation: Y = Bo+B2(x+2) What will be the difference between your estimates of B1 and B2?

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