What is the MLE of α? (Hint: Type ?boxcox to learn what is returned by this function.) Next, fit a linear model with price transformed by α (the MLE). Here the function bcPower() in the AER package...

What is the MLE of α? (Hint: Type ?boxcox to learn what is returned by this function.) Next, fit a linear model with price transformed by α (the MLE). Here the function bcPower() in the AER package computes a Box–Cox transformation for a given value of α and must be distinguished from boxcox(), which computes the profile log-likelihood for α. In the following code, replace 1/2 by the MLE of α.