Kizspy | Question: 59
(Choose 1 answer)
(See picture)
A. -3.182 and 3.182
B. 4.303 and 4.303
C. 2.920 and 2.920
D. 2.353 and 2.353
E. None of the other choices is correct
A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:
City
Price ($) Sales
1.30
1.60
1.80
2.00
100
90
90
40
River Falls
Hudson
Ellsworth
Prescott
To test that the regression coefficient, \beta_{1}, is not equal to 0,what would be the critical values? Use \alpha=0.05.
Let t_{0.025;2}=4.303 t_{0.025;3}=3.182 t_{0.05;2}=2.920 t_{0.05;3}=2.353
