A sociologist wishes to study the relationship between happiness and age.He interviews 24 individuals and collects data on age and happiness,measured on a scale from 0 to 100.He estimates the following model: Happiness = β₀ + β₁Age + ε.The following table summarizes a portion of the regression results. At the 1% significance level,which of the following is correct? A) Do not reject the null hypothesis.At 1% significance level,we conclude that Age is not significant in explaining Happiness. B) Do not reject the null hypothesis.At 1% significance level,we conclude that Age is significant in explaining Happiness. C) Reject the null hypothesis.At 1% significance level,we conclude that Age is significant in explaining Happiness. D) Reject the null hypothesis.At 1% significance level,we conclude that Age is not significant in explaining Happiness.

Question

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The table shows that the p-value for the coefficient of Age is less than 0.01. This means that at the 1% significance level, we reject the null hypothesis that the coefficient is zero and conclude that Age is significant in explaining Happiness.

A Sociologist Wishes to Study the Relationship Between Happiness and Age.He