**3. A Simple Regression Problem****(a)** Find point estimates for α, β, and σ².In this section, students are expected to determine the point estimates for the parameters α (alpha), β (beta), and σ² (sigma squared) in the context of a simple linear regression problem. These point estimates are typically derived using statistical methods such as Ordinary Least Squares (OLS). ### Data Table for AnalysisBelow is a dataset presented in two columns, \( X \) and \( Y \), each containing numerical values. The dataset can be utilized for various statistical analyses such as correlation, regression, and trend analysis. #### Data Values:| **X** | **Y** ||:--------:|:--------:|| 5 | 16.1 || 5 | 17.4 || 5 | 18.7 || 9 | 25.9 || 7 | 20.3 || 5 | 16.1 || 6 | 18.2 || 10 | 32.1 || 5 | 17.3 || 6 | 21.6 || 7 | 20.9 || 5 | 15.9 || 5 | 14.2 || 9 | 28.1 || 8 | 23.2 || 4 | 14.8 || 6 | 19.7 || 6 | 19.0 || 7 | 22.8 || 5 | 17.9 || 5 | 16.3 || 10 | 27.9 || 8 | 22.6 || 5 | 16.8 || 8 | 24.1 |#### Interpreting the Data:This dataset can be plotted on a graph to visually examine the relationship between the \( X \) and \( Y \) variables. For example, a scatter plot will help reveal patterns, trends, or correlations. Statistical tests can be applied to determine if the relationship between \( X \) and \( Y \) is significant. The repeated values for \( X \) and their corresponding \( Y \) values suggest that there may be an underlying pattern or other factors

Introduction: The response variable here is y, and the explanatory variable is x. The population…

Answered: A Simple Regression Problem (a) Find…

Math

Statistics

A Simple Regression Problem (a) Find point estimates for a, B, and o?.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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