The equation for a straight line (deterministic) is y = o + 1 x If

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The equation for a straight line (deterministic) is 

y = β̂o + β̂1x

If the line passes through the point (0, 1), then x = 0, y = 1must satisfy the equation. That is, 

1 = βo + β1(0)

Similarly, if the line passes through the point (2, 3), then x = 2, y = 3 must satisfy the equation:

3 = β̂o + β̂1(2)

Use these two equations to solve for βo and β1, and find the equation of the line that passes through the points (0, 1) and (2, 3).

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Related Book For  book-img-for-question

Statistics For Engineering And The Sciences

ISBN: 9781498728850

6th Edition

Authors: William M. Mendenhall, Terry L. Sincich

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