Concept explainers
The equation for a straight line (deterministic model) is
If the line passes through the point ( −2, 4), then x = −2, y = 4 must satisfy the equation; that is,
Similarly, if the line passes through the point (4, 6), then x = 4, y = 6 must satisfy the equation; that is,
Use these two equations to solve for β0 and β1 ; then find the equation of the line that passes through the points ( −2, 4) and (4, 6).
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Statistics for Business and Economics, Student Value Edition (13th Edition)
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