Set Up the Null Hypothesis and Alternative Hypothesis Carefully for the Following

question 15

Essay

Set up the null hypothesis and alternative hypothesis carefully for the following cases:
(a)k = 4,test for all coefficients other than the intercept to be zero
(b)k = 3,test for the slope coefficient of X1 to be unity,and the coefficients on the other explanatory variables to be zero
(c)k = 10,test for the slope coefficient of X1 to be zero,and for the slope coefficients of X2 and X3 to be the same but of opposite sign.
(d)k = 4,test for the slope coefficients to add up to unity

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Definitions:

Demand Function

A mathematical equation that specifies the quantity of a good or service demanded at various price levels, holding all other factors constant.

Price Elasticity

An economic metric indicating the responsiveness of the demand for a product or service to variations in its price.

Peck

A unit of volume for dry goods, historically used in agriculture and equal to about 8.809 or 9 liters in the US and UK respectively.

Bushel

A unit of volume that is used for measuring agricultural commodities, varying in actual volume by the product being measured.