IBM wonders if its announcement of an acquisition had a significant impact on its stock price. On the day of the announcement/event IBM's stock was up 1% while the Market Index was up 0.06%. Regression results for 120 days prior to the event are: IBM Market Index Average Daily Returns: 0.045% 0.04% Standard Deviation: 1.103% 1.265% Intercept = 0.0010 ; Slope 0.8500 ; SSR 0.0129 Did the Event have a significant impact on the stock price? Test at the 5% significance level