Question

Based on the data in the file P02_23.xlsx from the U.S. Department of Agriculture, explore the relationship between the number of farms (X) and the average size of a farm (Y) in the United States.
a. Use the given data to estimate a simple linear regression model.
b. Test whether there is sufficient evidence to conclude that the slope parameter (β1) is less than zero. Use a 5% significance level.
c. Based on your finding in part b, is it possible to conclude that a linear relationship exists between the number of farms and the average farm size during the given time period? Explain.



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  • CreatedApril 01, 2015
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