1. The relationship between Y and X is given by Yi=alpha+beta xi+nui where nui follows classical assumptions.

1. The relationship between Y and X is given by Yi=alpha+beta xi+nui where nui follows classical assumptions. Consider the following set of data and answer the questions. Y 1 2 3 4 5 X 8 6 9 12 10 a) Estimate parameters of the model from the following data by using OLS method. b) What is the estimate of error variance in the above case? c) Find the value of R square for the above data.
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