Question

Observations are taken on sales of a certain mountain bike in 24 sporting goods stores. The regression model was Y = total sales (thousands of dollars), X₁ = display floor space (square meters), X₂ = competitors' advertising expenditures (thousands of dollars), X₃ = advertised price (dollars per unit).

Predictor

Coefficient

SE

tcalc

p-value

Find the T calc and P-Value of the following;

Intercept	1,265.1	343.6
FloorSpace	11.455	1.54
Competing Ads	-6.453	3.908
Price	-0.14956	0.08880

(b-1) What is the critical value of Student's t in Appendix D for a two-tailed test at α = .01? (Round your answer to 3 decimal places.)

t-value = ______

Answer 1

tCritical value for a = 0.01 , d.f= n-2 = 22 and two tailed test

tCritical = t​​​​​​a/2, n-2  = t​​​​​​0.005,22

tCritical = 2.819

t-value = 2.819