Business
Business, 28.06.2019 03:00, jazwhi1507

You wish to estimate as precisely as possible the slope in a straight line regression model y = + x + e: each pair of observations (x; y) costs $ 1: 00 and your budget is $ 4: 00. a data analyst proposes that you consider one of the following two options: (a) make two y-observations at x = 1 and a further two at x = 4; (b) make one y-observation at each of the points x = 1; 2; 3 and 4. which of the two options would give you the most bang for your bucks? show a relevant calculation to justify your choice.

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You wish to estimate as precisely as possible the slope in a straight line regression model y = + x...

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