In: Statistics and Probability
For the data set shown below
x y
20 98
30 95
40 91
50 83
60 70
(a) Use technology to find the estimates of β0 and β1.
β0 ≈b0=114.60
(Round to two decimal places as needed.)
β1≈b1=−0.68
(Round to two decimal places as needed.)
(b) Use technology to compute the standard error, the point estimate for σ.
se=3.7771
(Round to four decimal places as needed.)
(c) Assuming the residuals are normally distributed, use technology to determine sb1.
sb1equals=0.1194
(Round to four decimal places as needed.)
(d) Assuming the residuals are normally distributed, test H0: β1=0 versus H1: β1≠0 at the α=0.05 level of significance. Use the P-value approach.
Determine the P-value for this hypothesis test.
P-value=__?__
(Round to three decimal places as needed.)