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Regression: !Y=Bo + B1Xi +ui Randon Sample of 3 observations on Xi and Yi Yi Xi...

Regression:

!Y=Bo + B1Xi +ui

Randon Sample of 3 observations on Xi and Yi

Yi Xi

51 3

60 2

45 4

a) Compute the OLS estimate Bo and B1

b) Compute the predicted value ŷi and the residual (u-hat)i for each of the 3 observations

c) What is the mean of the (u-hat)i's?

d) What is the mean of the ŷi's? How does it compare to the mean of the Yi's?

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