SCENARIO 13-2 A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product.To do this,the company randomly chooses 6 small cities and offers the candy bar at different prices.Using candy bar sales as the dependent variable,the company will conduct a simple linear regression on the data below: -Referring to Scenario 13-2,to test that the regression coefficient,$\beta$₁,is not equal to 0,what would be the critical values? Use ? = 0.05. A)$\pm$ 2.5706 B)$\pm$2.7764 C)$\pm$ 3.1634 D)$\pm$ 3.4954

Question

Quizplus · Accepted Answer

At a significance level of α=0.05, with 4 degrees of freedom (number of observations - 2), the critical t-value for a two-tailed test is 2.7764. Therefore, the critical values for the regression coefficient would be ±2.7764.

SCENARIO 13-2 a Candy Bar Manufacturer Is Interested in Trying β\betaβ

SCENARIO 13-2
a Candy Bar Manufacturer Is Interested in Trying $\beta$