// File New-Lec2-01-01-01-01.txt. // Lab Specs // Title Best_Fitting_Line // Problem Specs // xyz x = Is ML radiobutton not visible (-1 if yes 0 if no) // y = Is OLS radiobutton not visible (-1 if yes 0 if no) // z = Default 0 OLS or 1 ML // Is Go button visible (-1 yes 0 no) // Allow data edit (-1 yes 0 no) // Constant only (0 not visible and unchecked, 1 visible and unchecked, -1 visible and checked) // x y points ` 000 0 0 0 5_66_15_87_25_90 Objective: Show that the equations for the OLS estimates minimize the sum of squared residuals. _ Data from Professor Lord's first quiz are specified. ` 000 -1 0 0 5_66_15_87_25_90 1. Click Go. The constant and coefficient are the OLS estimates, 63 and 1.2. What is the SSR? _ 2. Can you reduce the SSR by using the sliders change the values of the constant and coefficient?