Assume that we estimated the following model by OLS:     y =β₁ + β₂x + u. The sample size of the data is n=62. We calculated that the standard errors for β₁ and β₂ are se(β₁)=1 and se(β₂)=2. Also, the estimates for β₁ and β₂ are β₁=3 and β₂=5. We want to test:     H₀ : β₁ =5     H₁ : β₁ ≠5. for α=0.05 significance level. What is the p-value of the test?

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.2: The Least Square Line
Problem 8E
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Assume that we estimated the following model by OLS:

    y =β₁ + β₂x + u.

The sample size of the data is n=62. We calculated that the standard errors for β₁ and β₂ are se(β₁)=1 and se(β₂)=2. Also, the estimates for β₁ and β₂ are β₁=3 and β₂=5. We want to test:

    H₀ : β₁ =5
    H₁ : β₁ ≠5.

for α=0.05 significance level. What is the p-value of the test?

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