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In the following scenarios, discuss which, if any, of the three primary OLS assumptions are violated. a. You randomly survey 100 recent graduates from UCR. You then regress starting salary (Yi) on the number of economics courses taken by the student (Xi) in order to determine whether economics courses increase your starting salary. b. You are planning to purchase a new car and want to know which car brand will last the longest. You go to a local online website and gather data on the number of miles driven on each car for sale and whether or not the car is a Toyota brand. The number of miles on the car (Yi) is regressed on a dummy variable equal to 1 if the car is a Toyota (Xi). c. You are wondering whether or not the meals at a restaurant are priced to maximize revenue. You work with a local restaurant and convince them to randomly change their prices. Using data on the amount of sales (Yi) and the price of meals (Xi), you run a regression of sales on price. In the following scenarios, discuss which, if any, of the three primary OLS assumptions are violated. a. You randomly survey 100 recent graduates from UCR. You then regress starting salary (Yi) on the number of economics courses taken by the student (Xi) in order to determine whether economics courses increase your starting salary. b. You are planning to purchase a new car and want to know which car brand will last the longest. You go to a local online website and gather data on the number of miles driven on each car for sale and whether or not the car is a Toyota brand. The number of miles on the car (Yi) is regressed on a dummy variable equal to 1 if the car is a Toyota (Xi). c. You are wondering whether or not the meals at a restaurant are priced to maximize revenue. You work with a local restaurant and convince them to randomly change their prices. Using data on the amount of sales (Yi) and the price of meals (Xi), you run a regression of sales on price

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