Solution-Explain the difference between correlation and

Assignment Help Basic Statistics

Consider you estimate the following regression model, y = α + βx + u

where y is the dependent variable, x is the independent variable and u is the error term.

(a) Explain the difference between correlation and regression and explain the assumptions of the regression model.

(b) What are the interpretation of α and β?

(d) What are the statistical properties of the method you proposed?

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