Consider the accompanying data on x = research and development expenditure (millions of dollars) and y = growth rate (% per year) for eight different industries.X 2.025 5.039 0.904 3.573 1.157 0.327 0.378 0.191y1.90 3.96USE SALT2.440.880.37-0.9 0.49 1.01(a) Would a simple linear regression model provide useful information for predicting growth rate from research and development expenditure? Test the appropriate hypotheses using a 0.05 significancelevel.Calculate the test statistic. (Round your answer to two decimal places.)t =Use technology to find the P-value for this test. (Round your answer to four decimal places.)P-value =What can you conclude?O Reject Ho. We do not have convincing evidence of a useful linear relationship between growth rate and research and development expenditure.O Fail to reject Ho. We do not have convincing evidence of a useful linear relationship between growth rate and research and development expenditure.O Fail to reject H. We have convincing evidence of a useful linear relationship between growth rate and research and development expenditure.O Reject Ho. We have convincing evidence of a useful linear relationship between growth rate and research and development expenditure.(b) Use a 90% confidence interval to estimate the average change in growth rate associated with a $1,000,000 increase in expenditure. (Use technology or the Distribution Calculators page in SALT tofind the critical value. Round your answers to four decimal places.)% per yrInterpret the resulting interval.O We are 90% confident that the mean change in growth rate associated with a $1,000 increase in research and development expenditure is in this interval.O We are 90% confident that the mean change in growth rate associated with a $1,000 increase in research and development expenditure is outside this interval.O We are 90% confident that the mean change in research and development expenditure associated with a 1 percent change in growth rate is outside this interval.O We are 90% confident that the mean change in research and development expenditure associated with a 1 percent change in growth rate is in this interval.

Hello! As you have posted more than 3 sub parts, we are answering the first 3 sub-parts. In case you require the unanswered parts also, kindly re-post that parts separately. a) Null Hypothesis: H0: There is no significant linear relationship between growth rate and development expenditure. Alternative Hypothesis: H1: There is a significant linear relationship between growth rate and development expenditure.a) Excel Procedure: Enter X and Y in Excel>Data>Data Analysis> ‘Regression’>Select Y under ‘Input Y Range’>Select X under ‘Input X Range’>Click on ‘OK’. Output: From the output, the t statistic value corresponding with X is 2.28 rounded to 2 decimals. t=2.28.P value: From the output, the P value for the variable X is 0.0625 rounded to 4 decimals. P value=0.0625. Conclusion: Decision Rule: If p-value ≤ α, then reject the null hypothesis. Conclusion: The level of significance is α=0.05 Here, the P-value is greater than the level of significance. From the decision rule, failed to reject the null hypothesis. There is no significant linear relationship between growth rate and development expenditure.