The Critical Value for a Two-Tailed Test of H₀: β₁

question 15

Multiple Choice

The critical value for a two-tailed test of H₀: β₁ = 0 at α = .05 in a simple regression with 22 observations is:

• A)±1.725
• B)±2.086
• C)±2.528
• D)±1.960

Understand the role and limitations of economic models in explaining real-world phenomena.

Comprehend that economists use assumptions to simplify the complex world and facilitate understanding.

Acknowledge the application of the scientific method in economics.

Recognize the challenges economists face in conducting experiments.

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