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Please explain how to solve the parts of this problem in details thank you Hypothesis Testing. Suppose now that we are interested in investigating the

Please explain how to solve the parts of this problem in details thank you

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Hypothesis Testing. Suppose now that we are interested in investigating the relationship between the size of someone's social circle, X, and their income (in tens of thousands of dollars), Y. We want to estimate the following linear regression model Y = Bo + BIX + c, E[e] = E[EX] = 0. To do so we collect a random sample of size n = 64, {Y, X;}$4, and find that 1 "_(X, - X)2 = 100, 1 EL,(Y - Y)(X, - X) = 225, Y = 5.5, and X = 1.5. (d) Use this result to test, at level or = 0.1, the hypotheses Ho : B1 = 0 vs. H1 : B1 # 0 (e) Conduct this test in another fashion by constructing the test statistic t* and comparing to either 20.95 = 1.64 or zo.9 = 1.24 (indicate which value you are comparing the test statistic to). (f) Construct a 90% confidence interval for B1. How could we use this to conduct the hypothesis test in part (d)? (g) Suppose that we find we made an error in our calculation and actually _ _, (X, - X)? = 1. If all other values stayed the same, how would this change the result of the hypothesis test in part (d)

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