You Are Given the Following Information About Y and X

question 3

Multiple Choice

You are given the following information about y and x. $$\begin{array} { l l } \text { Dependent Variable } ( y ) & \text { Independent Variable } ( x ) \\5 & 1 \\4 & 2 \\3 & 3 \\2 & 4 \\1 & 5\end{array}$$ The least squares estimate of the intercept or b₀ equals

• A) 1.
• B) -1.
• C) 6.
• D) -5.

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Definitions:

Oligopolistic Competition

Occurs when only a few firms dominate a market.

Commercial Airline Travel

The aspect of aviation that involves operating aircraft for hire to transport passengers or cargo on scheduled or charter services.

Electrical Service

Maintenance, repair, and installation services provided for electrical systems and components in buildings and infrastructure.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance premiums.