A Data Set with 7 Observations Yielded the Following $\sum x$

question 51

Essay

A data set with 7 observations yielded the following.Use the simple linear regression model where y is the dependent variable and x is the independent variable. $\sum x$ = 21.57 $\sum X ^ { 2 }$ = 68.31 $\sum Y ^ { 2 }$ = 188.9 $\sum Y ^ { 2 }$ = 5,140.23 $\sum X Y$ = 590.83
SSE = 1.06
-Find the rejection point for the t statistic ( $\alpha$
= .05).Test H₀:b1? 0 vs.Ha:b1> 0.
t = 13.993,reject H₀

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Definitions:

Income

Money received annually from all sources.

Wealth

Net accumulated assets, including homes, land, and stocks.

Social Inequality

A condition where members of a society have unequal access to wealth, power, and resources.

Religious Affiliation

An individual's declared association or identification with a particular religion or faith tradition.