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Consider the following estimated and true relationship between health (H) and hours of exercise (E): Estimated:...

Consider the following estimated and true relationship between health (H) and hours of exercise (E): Estimated: Hi = 20 + 10Ei - Ei2 True: Hi = β1 + β2Ei - β3Ei2 + ei a) Interpret the estimated equation, (not including elasticity) b) Which parts of the true equation are observable and which are unobservable? c) What is єi and what 3 roles does it have? Give an example for each.

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