1. The problem statement, all variables and given/known data ΣiYi = 500; ΣiXi = 150; ΣiYi2 = 17000; ΣiXi2 = 4000; ΣiXiYi = 8000; n = 50. β0 = 3. Derive formula for OLS estimator of β1 and find estimate 2. Relevant equations I'm new to OLS and I'm not sure where to go from: Σ(Yi - 3 - b1Xi)^2 I was able to walk through the steps in my class lectures to solve Bhat1 and Bhat0 but am a little confused when β0 is given. Can anyone explain the logical following steps? Thank you!