The data shown below are the average personal income and personal consumption expenditures based on the survey conducted in the year 1995 to 2009 in U.S.
a. What is the 95 percent confidence interval for the regression parameter β1? Based on this interval, what conclusion can you make about the hypotheses that the regression parameter β1 is equal to zero?
d. What is the 95 percent confidence interval for the regression parameter β0? Based on this interval, what conclusion can you make about the hypotheses that the regression parameter β0 is equal to zero?
Definitions:
Transformational Leadership
Is a style of leadership where the leader works with teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of a group.
Charismatic
Possessing a special magnetic charm or appeal that inspires devotion or enthusiasm in others.
Autocratically Led Groups
Groups that are directed by a single leader who makes decisions unilaterally, without input from group members.
Laissez-Faire
A leadership or management style characterized by a hands-off approach, allowing individuals or teams to make decisions and solve problems independently.
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