A consumer's spending is widely believed to be a function of their income. To estimate this relationship, a university professor randomly selected 19 of his students and collected information on their spending (Y, in dollars) and income (X, in dollars) patterns in week 6 of the semester. Assuming a linear relationship between Y and X, the professor used the least-squares method and found that the Y intercept = 20.90 and the slope = 0.66. The professor also found that the standard error of the slope was 0.08. Based on this information, what conclusion should you reached at the 5% level of significance when testing the null hypothesis that there is no linear relationship between the two variables, X and Y?

a.Thereis insufficientevidenceat the5%levelofsignificanceto conclude thatthereisa significant linearrelationshipbetweenX andY.

b.Thereis sufficientevidenceat the5%levelofsignificanceto conclude thatthereisa significant linearrelationshipbetweenthe Y intercept and the slope.

c.There is sufficient evidence at the 5% level of significance to conclude that there is a significant linear relationship between X and Y.

d.Thereis sufficientevidenceat the5%levelofsignificanceto conclude thatthereisno significant linearrelationshipbetweenX andY.