Given are five observations for two variables, x and y. Excel File: data14-25.xlsx The estimated regression equation is ŷ = 7.6+0.9x. a. What is the value of the standard error of the estimate (to 4 decimals)? b. Test for a significant relationship by using the t test. Use α = 0.05. What is the value of the t test statistic (to 2 decimals)? What is the p-value? Use Table 2 of Appendix B. - Select your answer What is your conclusion (a: = = 0.05)? - Select your answer - xi 2 Yi 7 6913 18 9 20 26 23 Consider the following hypothesis test: Ho: μ≥ 45 Ha: : μ < 45 A sample of 36 is used. Identify the p-value and state your conclusion for each of the following sample results. Use a = 0.01. a. With 44 and s = 5.2, the p-value is - Select your answer- Can it be concluded that the population mean is less than 45 ? - Select your answer b. With 43 and s = 4.6, the p-value is -Select your answer- Can it be concluded that the population mean is less than 45? - Select your answer- c. With 46 and s = 5, the p-value is -Select your answer Can it be concluded that the population mean is less than 45? - Select your answer -
Given are five observations for two variables, x and y. Excel File: data14-25.xlsx The estimated regression equation is ŷ = 7.6+0.9x. a. What is the value of the standard error of the estimate (to 4 decimals)? b. Test for a significant relationship by using the t test. Use α = 0.05. What is the value of the t test statistic (to 2 decimals)? What is the p-value? Use Table 2 of Appendix B. - Select your answer What is your conclusion (a: = = 0.05)? - Select your answer - xi 2 Yi 7 6913 18 9 20 26 23 Consider the following hypothesis test: Ho: μ≥ 45 Ha: : μ < 45 A sample of 36 is used. Identify the p-value and state your conclusion for each of the following sample results. Use a = 0.01. a. With 44 and s = 5.2, the p-value is - Select your answer- Can it be concluded that the population mean is less than 45 ? - Select your answer b. With 43 and s = 4.6, the p-value is -Select your answer- Can it be concluded that the population mean is less than 45? - Select your answer- c. With 46 and s = 5, the p-value is -Select your answer Can it be concluded that the population mean is less than 45? - Select your answer -
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education