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A consumer's spending is widely believed to be a function of their income. To estimate this relationship, a university professor randomly selected 19 of his
A consumer's spending is widely believed to be a function of their income. To estimate this relationship, a university professor randomly selected 19 of his students and collected information on their spending (Y, in dollars) and income (X, in dollars) patterns in week 6 of the semester. Assuming a linear relationship between Y and X, the professor used the least-squares method and found that the Y intercept = 20.90 and the slope = 0.66. The professor also found that the standard error of the slope was 0.08. Based on this information, what is the upper critical value used to test the null hypothesis that there is no linear relationship between the two variables, X and Y at the 5% level of significance? Use our textbook statistical table to answer the
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