Simple Linear Regression (Econometrics)

Im given 10 observations for some variable X along with 10 observations of the error term(u) (pulled from normal distribution with mean=0 and variance=10). I'm given this equation:

Yi=1+.5Xi+ui

and that B0=1 and B1=.5. Im than told that since I know the true properties of the data, than I need to find the following:

1) True Variance of Beta^{hat}o and Beta^{hat}1

I honestly don't really know what its asking so if anyone could help or offer some insight that would be great.

Hey madams5402.

Basically they are asking for the variance of the estimated parameters: your Beta's are not just numbers but they have a distribution of their own (i.e. they are random variables).

There are formula's for the variance of parameters and they should reflect a t-distribution under a standard OLS regression.

Do you have a book or notes that covers this?