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x 3 4 5 7 8
y 4 6 8 13 14
(a) Find the estimates of β0 and β1.
(b) Compute the standard error, the point estimate for σ.
(c) Assuming the residuals are normally distributed, determine sb1.
(d) Assuming the residuals are normally distributed, test H0: β1=0 versus H1: β1≠0 at the α=0.05 level of significance. Use the P-value approach. What is the P-Value? Do I reject or not reject?
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