Question: In a simple linear regression based on 30 observations, it is found that b1 = 3.25 and Consider the hypotheses: H0: 1 = 0 and

In a simple linear regression based on 30 observations, it is found that b1 = 3.25 and Consider the hypotheses:

H0:β 1 = 0 and HA: β 1 ≠ 0.

a. Calculate the value of the appropriate 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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