For the data set shown below, do they 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 versus H1; β1≠0 at the a=0.05 level of significance.
X 20 30 40 50 60
Y 98 95 91 81 68
a) Determine the point estimate for σ. Se = (.......)(Do not round until the final answer. Then round to four decimal places as needed)
b) Assuming the residuals are normally distributed, determine Sb1.
c) In order to conduct the hypothesis test, first calculate the test statistic t0.(Explain the result; rejected or do not reject; do the relation exists between x and y?).