The following data have been collected for a simple linear regression analysis relating sales (y) to price (x): In applying the least squares criterion, the slope (b) and the intercept (a) for the best-fitting line are b = -12 and a = 162.You are to conduct a hypothesis test to determine whether you can reject the null hypothesis that the population slope, β, is 0 at the 1% significance level.Report the value of the appropriate sample test statistic, t_stat. A)-2.27 B)-1.23 C)-4.16 D)-3.52 E)-3.01

Question

Quizplus · Accepted Answer

The Answer of The following data have been collected for a simple linear regression analysis relating sales (y) to price (x): In applying the least squares criterion, the slope (b) and the intercept (a) for the best-fitting line are b = -12 and a = 162.You are to conduct a hypothesis test to determine whether you can reject the null hypothesis that the population slope, β, is 0 at the 1% significance level.Report the value of the appropriate sample test statistic, t_stat. A)-2.27 B)-1.23 C)-4.16 D)-3.52 E)-3.01

The Following Data Have Been Collected for a Simple Linear