Question: In a simple linear regression based on 30 observations, it is found that b1 = 7.2 and se(b1) = 1.8. Consider the hypotheses: H 0

In a simple linear regression based on 30 observations, it is found that b1 = 7.2 and se(b1) = 1.8. Consider the hypotheses:

H 0 : β 1 ≥ 10 and H A : β 1 < 10.

a. Calculate the value of the test statistic and the p-value.

b. At the 5% significance level, what is the conclusion to the test?

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