Question 3 (20 points) **Regression Estimation**
a) (7 points) Using the *synthetic data* provided below, named `housing` on median home values ($Y$) and towns in New England $(X)$, estimate the regression from question 1, i.e.,
$Y_i=\beta X_i + \varepsilon_i$
Are the coefficients statistically significant? Do not forget to use `factor(X)` as opposed to `X` in your regression!!
“`
{r}
housing=read.table(“https://unh.box.com/shared/static/twmyqbvx0toxhvdv0n23c55e5cc3ipe4.csv”, header = TRUE, sep=”,”, dec=”.”)
head(housing)
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b) (13 points) Check the residuals of the model in term of serial correlation (autocorrelation), constant variance and multicolinearity. Are the assumptions satisfied? Why? Why not?
“`{r}
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