Influenced by the price of product

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A candy bar manufacturer is interested in trying to estimate how sales are influenced by the price of their product. To do this, the company randomly chooses 6 small cities and offers the candy bar at different prices. Using candy bar sales as the dependent variable, the company will conduct a simple linear regression on the data below:

City Price ($)Sales

River Falls           1.30                100

Hudson               1.60                 90

Ellsworth             1.80                 90

Prescott              2.00                 40

Rock Elm            2.40                  38

Stillwater            2.90                32

Referring to Scenario 13-2, to test that the regression coefficient, β1, is not equal to 0, what would be the critical values? Use α = 0.05.

Reference no: EM131435621

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