The following table lists the monthly incomes (in hundreds of dollars) and the monthly rents paid (in hundreds of dollars) by a sample of six families. Monthly Income Monthly Rent 24 7.0 16 4.5 19 6.5 31 11.6 10 4.5 27 8.5 1.The 99% confidence interval for the slope, B, of the population regression line is (2 decimals): __________________________________________ 2. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. What is the critical value of t (3 decimals)? __________________________________________ 3. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. What is the value of the test statistic, t, rounded to three decimal places? ______________________ 4. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. By hand, test whether the slope of the monthly income is greater than zero using the CV approach, including identifying the reject/non reject regions, etc
The following table lists the monthly incomes (in hundreds of dollars) and the monthly rents paid (in hundreds of dollars) by a sample of six families.
| Monthly Income | Monthly Rent |
| 24 | 7.0 |
| 16 | 4.5 |
| 19 | 6.5 |
| 31 | 11.6 |
| 10 | 4.5 |
| 27 | 8.5 |
1.The 99% confidence interval for the slope, B, of the population regression line is (2 decimals): __________________________________________
2. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. What is the critical value of t (3 decimals)? __________________________________________
3. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. What is the value of the test statistic, t, rounded to three decimal places? ______________________
4. The null hypothesis is that the slope of the population regression line of monthly rent on monthly income is zero and the alternative hypothesis is that the slope of this population regression line is greater than zero. The significance level is 1%. By hand, test whether the slope of the monthly income is greater than zero using the CV approach, including identifying the reject/non reject regions, etc
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