Refer to Example 2.5 about antique clocks and their prices. Based on Table 2-14, we obtained the

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Refer to Example 2.5 about antique clocks and their prices. Based on Table 2-14, we obtained the regression results shown in Eqs.(2.27) and (2.28). For each regression obtain the standard errors, the t ratios, and the r2 values. Test for the statistical significance of the estimated coefficients in the two regressions.
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Essentials of Econometrics

ISBN: 978-0073375847

4th edition

Authors: Damodar Gujarati, Dawn Porter

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