8.3: Summary
- Page ID
- 7241
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Whoa! Think of what you’ve accomplished here: You learned enough calculus to find a minima for an equation with two variables, then applied that to the equation for the ∑ϵ2∑ϵ2. You derived the error minimizing values for ^αα^ and ^ββ^, then used those formulae in R
to calculate by hand" the OLS regression for a small dataset.
Congratulate yourself – you deserve it!