Linear relationship between explanatory variables

Reference no: EM13110160

You are interested in estimating the following model

Y = a_o+a₂X₂ +a₂X₂+u

However, you have detected an exact linear relationship between the explanatory variables so that X₂=200-3X₁. Rewrite the model to show that this is in fact a two-variable model rather than a three-variable model. Define the parameters (the constant and the slope).

Reference no: EM13110160

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