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Question: question 6 4 points usually we can never observe the...

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Question 6 (4 points): Usually, we can never observe the error term and we do not know the TRUE coefficients. Pretend for this question that you know the truth: true BO-2 and true B1-1.5. Your estimation produced the following estimated coefficients: BO_hat 5 and B1_hat-0.7. Using data below calculate error terms and residuals for the following observations. Hint: write down equations first. Equation Y Xi Error term (E) 7.5 3 Equation: Y XiResidual (ei) 3 1 7.5 3

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