Figure 29.26a is a plot of three data pairs of y versus x. Sketch the linear relation, y = a + bx, that is the best line in a traditional least squares approach (vertical deviations). I suggest you...

Figure 29.26a is a plot of three data pairs of y versus x. Sketch the linear relation, y = a + bx, that is the best line in a traditional least squares approach (vertical deviations). I suggest you use your pencil as the trial line, move it around to “eyeball” the best line, and then sketch the line. Figure 29.26b indicates likelihood contours about the same three data points. Sketch the linear relation, y = a + bx, that is the best line in a maximum likelihood approach. Again, I suggest you use your pencil as the trial line and move it around to “eyeball” the best line. Discuss the similarity and contrast of the two solutions.