Prove the following properties of the least squares estimated regression function
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Prove the following properties of the least squares estimated regression function

3. Properties of the Least Squares Estimation

Prove the following properties of the least squares estimated regression function ˆy = b0 + b1x where


(e) The least squares regression line always passes through the point (¯x, y¯).

Hint
StatisticsThe least-squares criterion refers to a formula used to measure the exactness of a straight line in showing the data that was used to produce it. Therefore, the formula ascertains the line of best fit. This arithmetical formula is used to forecast the behavior of the dependent variables....
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