Problem 9 at the end of Chapter 2 examined the impact of measures of economic freedom on

Question:

Problem 9 at the end of Chapter 2 examined the impact of measures of economic freedom on economic growth. You were asked to compute and interpret the model. However, it is now necessary to test the significance of the model using the hypothesis tests explored in this chapter. The data are repeated here for your convenience. Compute the model if you did not retain the outcome derived in Chapter 2.

Test the significance of the measure of freedom as an explanatory variable.

Calculate and interpret the p-value. Draw a graph explaining your results. image text in transcribed