In a simple linear regression based on 30 observations, it is found that b1 3 25 and se(bj) 1 36 Consider the hypotheses H0 1 0 and HA 1 0 a Calculate the value of the test statistic b Approximate the p value c At the 5 significance level, what is the conclusion Is the explanatory variable significant

Question: In a simple linear regression based on 30 observations, it is found that b1 = 3.25 and se(bj) = 1.36. Consider the hypotheses: H0: 1

In a simple linear regression based on 30 observations, it is found that b1 = 3.25 and se(bj) = 1.36. Consider the hypotheses: H0: β1 = 0 and HA: β1 ≠ 0.

a. Calculate the value of the test statistic.

b. Approximate the p-value.

c. At the 5% significance level, what is the conclusion? Is the explanatory variable significant?

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