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. The null hypothesis is that x and y are not linearly related.
X 3 4 5 7 8
Y 5 6 8 13 15
a) Determine the point estimate for σ. Se ≈ (.......)(Do not round until the final answer. Then round to four decimal places as needed)
b) Recall that b1 is the estimate of slope of the regression line β1. The sample standard error of b1 is given by the following formula.
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?).