Question: When estimating a multiple linear regression model based on 30 observations, the following results were obtained. Coefficients Standard Error t Stat p-value Intercept 152.27 119.70

When estimating a multiple linear regression model based on 30 observations, the following results were obtained.

Coefficients Standard Error t Stat p-value Intercept 152.27 119.70 1.272 0.214 x1 12.91 2.68 4.817 5.06E-05 x2 2.74 2.15 1.274 0.213

a. Specify the hypotheses to determine whether x1 is linearly related to y. At the 5% significance level, are x1 and y linearly related?

b. What is the 95% confidence interval for β2? Using this confidence interval, is x2 significant in explaining y?

Explain.

c. At the 5% significance level, can you conclude that β1 is less than 20? Show the relevant steps of the hypothesis test.

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