Use the Following Results Obtained from a Simple Linear Regression

question 127

Short Answer

Use the following results obtained from a simple linear regression analysis with 12 observations. = 37.2895 − (1.2024)X
r² = .6744s_b = .2934
Test to determine if there is a significant negative relationship between the independent and dependent variables at α = .05. Give the test statistic and the resulting conclusion.

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Definitions:

Casualty Loss

A loss resulting from a sudden, unexpected, or unusual event such as a natural disaster, theft, or accident.

Taxpayer

An individual or entity that is obligated to pay taxes to a federal, state, or local government based on income earned, property owned, or consumption.

Casualty Loss Deduction

A tax deduction that allows taxpayers to deduct losses caused by sudden, unexpected or unusual events such as natural disasters, fires, or thefts.

Fair Market Value

The price at which an asset would sell under normal market conditions between a willing buyer and seller, both having reasonable knowledge of the facts.