Suppose that you are given a data set which predicts the price of coffee based on loss of forest in indonesia. software tells us that the least-squares slope from 10 different observations is b = 0.549 with standard error seb = 0.096. use 2 decimal places.
1. what is the t statistic for testing h0: β = 0?
2. how many degrees of freedom does t have?
use a t-table to approximate the p-value of t against the one-sided alternative ha: ? > 0. what do you conclude? (select one)
we have no evidence (p > 0.05) that the population slope ? is positive.
we have overwhelming evidence (p < 0.001) that the population slope ? is positive.
we have slight evidence (0.05 < p < 0.1) that the population slope ? is positive.
we have strong evidence (0.005 < p < 0.01) that the population slope ? is positive.