Consider the following simple linear regression model: ;β₀ and β₁ are: A)the response variables. B)the random error terms. C)the unknown parameters. D)the explanatory variables.

Question

Quizplus · Accepted Answer

β₀ and β₁ are the unknown parameters in the simple linear regression model. The response variable is not explicitly stated, and the explanatory variable is not provided in the given information. The random error term is typically denoted by ε.

Consider the Following Simple Linear Regression Model: ;β0 and β1

Consider the Following Simple Linear Regression Model: ;β₀ and β₁