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From the output graph (GRA01) generated from regression 1, we can see β₁ is normally distributed with mean at around 1, because of the application of Monte Carlo experiment when we apply the method of least squares again and again, on average, the values of the estimated parameters are equal to their true value, we can conclude that the OLS estimator is unbiased. But adjusted R-squared is only 0.683, meaning only 68% of the total variation in Y is explained by this regression model, suggesting there might be some other variables we have not taken account into.
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