1) For the data set shown below, do the following. (a) Compute the standard error, the point estimate for σ. (b) Assuming the residuals are normally distributed, determine Sb1. (c) Assuming the residuals are normally distributed, test H0: β1=0 verses H1: β1≠0 at he a=0.05 level of significance.
X 20 30 40 50 60
Y 100 93 91 85 72
a) Determine the point estimate for σ. Se = (.......) (do not round until the final answer then round to four decimal places as needed).
b) Find the sample standard error of b1. Sb1 = (......)(Use the answer from part (a) to find this answer. Round to four decimal places as needed.)
c) Which of the following conclusions is correct?
A-Do not reject H0 and conclude that a linear relation exists between x and y.
B-Do not reject H0 and conclude that a linear relation does not exist between x and y.
C-Reject H0 and conclude that a linear relation does not exist between x and y.
D-Reject H0 and conclude that a linear relation exists between x and y.