16The margin of error for a 95% confidence interval for β₁ is,a1.0045 b1.0574 c1.1130 d1.1716 Questions 1-17 arerelated to the followingBelow are the values for two variables x and y obtained from a sample of size 25. We want to build a regression equationbased the sample data.ý = bo + bịxbo =b1 =yX418.321.64.93223.5419.24.829.97.622.88.727.45.846.612.229.58276.941.49.935.712.938.49.226.78.634.710.119.54.943.69.535.78.851.711.738.66.844.79.4407.228.610.733.47.127.2723.26.432.47.735.89.728.57.540.58.37.29.718.44.550.88.636.58.8

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The margin of error for a 95% confidence interval for β₁ is,

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16 The margin of error for a 95% confidence interval for β₁ is, a 1.0045 b 1.0574 c 1.1130 d 1.1716

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Hypothesis Testing

In statistics, there are two ways to calculate the sample data. One is descriptive statistics and the other is inferential statistics. In descriptive statistics, all of the information is defined through graphs and charts. In inferential statistics, it allows one to test the hypothesis and it is always used to predict the data. Inferential statistics has two main areas: estimating parameters and hypothesis testing. A hypothesis is a statement about the unknown parameter of the population which we want to verify from the information available from the sample. The premise may or may not be true. The estimation of the whole population would be a reasonable way of deciding if the statistical hypothesis is valid. There are two types of hypotheses. They are null hypothesis and alternative hypothesis.

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