Calculate the sum of squared residuals for the estimated multiple regression model in Part (C).
Choose some other estimator or make up any other set of estimates for your coefficients (i.e. change ̂ ̂ ̂ ̂ ̂ ̂ and ̂ ). Re-calculate the new sum of squared residuals based on your new coefficients.
What can you conclude about the original sum of squared residuals and the new sum of squared residuals?
[2 + 2 + 4 = 8 Marks]
Discuss the statistical significance of each estimated coefficient in the multiple regression model for Part (C). Comment on the overall significance of the model. Show your calculations/workings for all the tests involved in this question.
[7 + 3 = 10 Marks]
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