Question: Based on the above results, the researcher tested the hypotheses: Ho: B1=0 versus B1 not equal to 0, versus using T test. What do we know about the test statistic of the test? Based on the approximate p-value, what's the conclusion?

Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 5EQ
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Please help me understand this problem more in depth. A researcher is investigating possible explanations for deaths in traffic accidents. He examined data from 2000 for each of the 52 cities randomly selected in the US. The data included information on the following variables: Deaths: The number of deaths in traffic accidents per city Income: The median income per city As part of his study, he ran the following simple linear regression model attached in photo. 

Question: Based on the above results, the researcher tested the hypotheses: Ho: B1=0 versus B1 not equal to 0, versus using T test. What do we know about the test statistic of the test? Based on the approximate p-value, what's the conclusion? 

Deaths = Bo+B₁ (Income)
This model was fit to the data using the method of least squares. The following results were obtained from SAS:
Sum of Squares
Source
Model
Error
Variable
Constant
Income
711680
50692661
Parameter Estimate
292.518
0.05
df
1
50
Standard Error of Parameter Estimate
823.505
0.06
Transcribed Image Text:Deaths = Bo+B₁ (Income) This model was fit to the data using the method of least squares. The following results were obtained from SAS: Sum of Squares Source Model Error Variable Constant Income 711680 50692661 Parameter Estimate 292.518 0.05 df 1 50 Standard Error of Parameter Estimate 823.505 0.06
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