Based on the data for the years 1962 to 1977 for the United States, Dale Bails...

 

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Based on the data for the years 1962 to 1977 for the United States, Dale Bails and Larry Peppers" obtained the following demand function for automobiles: Ý, = 5807 + 3.24X, 2= 0.22 se = (1.634) where Y=retail sales of passenger cars (thousands) and X= the real disposable income (billions of 1972 dollars). Note: The se for bị is not given. a. Establish a 95% confidence interval for B2 b. Test the hypothesis that this interval includes B2 = 0. If not, would you accept this null hypothesis? c. Compute thet value under HoB2 = 0. Is it statistically significant at the 5 percent level? Which i test do you use, one-tailed or two-tailed, and why? The characteristic liua %3D Based on the data for the years 1962 to 1977 for the United States, Dale Bails and Larry Peppers" obtained the following demand function for automobiles: Ý, = 5807 + 3.24X, 2= 0.22 se = (1.634) where Y=retail sales of passenger cars (thousands) and X= the real disposable income (billions of 1972 dollars). Note: The se for bị is not given. a. Establish a 95% confidence interval for B2 b. Test the hypothesis that this interval includes B2 = 0. If not, would you accept this null hypothesis? c. Compute thet value under HoB2 = 0. Is it statistically significant at the 5 percent level? Which i test do you use, one-tailed or two-tailed, and why? The characteristic liua %3D

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