Below is an attempt at describing the simple linear regression model, which is incomplete and contains errors: A simple linear regression model is given by the formula Y; i = 1,..., n, where a and ß are the parameters, the x; is the explanatory variable and the Y; is the response random variables which are all independent and identically distributed. = a + Bx; for Identify and explain the three mistakes that have been made.

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Below is an attempt at describing the simple linear regression model, which is incomplete
and contains errors:
A simple linear regression model is given by the formula Y;
1,..., n, where a and B are the parameters, the x; is the explanatory
variable and the Y; is the response random variables which are all independent
and identically distributed.
= a + Bx; for
i
Identify and explain the three mistakes that have been made.
Transcribed Image Text:Below is an attempt at describing the simple linear regression model, which is incomplete and contains errors: A simple linear regression model is given by the formula Y; 1,..., n, where a and B are the parameters, the x; is the explanatory variable and the Y; is the response random variables which are all independent and identically distributed. = a + Bx; for i Identify and explain the three mistakes that have been made.
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