# Homework Help: OLS estimator with given β0

1. Sep 23, 2014

### zmalone

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!

2. Sep 23, 2014

$$\sum {\left(Y_i - 3 - b_1 x_i\right)^2}$$