Practice_Questions_Chapter3 - Chapter(3(Interval(Estimation(and(Hypothesis(Testing Multiple(Choice(Review(Questions

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Chapter 3: Interval Estimation and Hypothesis TestingMultiple Choice Review Questions1. You estimate a simple linear regression model using a sample of 62 observations and obtain thefollowing results (estimated standard errors in parentheses below coefficient estimates):y = 97.25 + 33.74 *x(3.86)(9.42)What are the endpoints of the interval estimator forβ2with a 95% interval estimate?a.) (14.90, 52.58)b.) (24.32, 43.16)c.) (Q3.58, 3.58)d.) (30.16,37.32)Ans: aSection: 3.12.You estimate a simple linear regression model using a sample of 25 observations and obtainthe following results (estimated standard errors in parentheses below coefficient estimates):y = 97.25 + 19.74* x(3.86)(3.42)What are the endpoints of the interval estimator forβ2with a 98% interval estimate?3. You estimate a simple linear regression model using a sample of 62 observations and obtain thefollowing results (estimated standard errors in parentheses below coefficient estimates):y = 97.25 + 33.74* x(3.86)(9.42)You want to test the following hypothesis:H0:β2= 12, H1:β2≠12.If you choose to reject the nullhypothesis based on these results, what is the probability you have committed a Type I error?