Question: [6 pts]Exercise 5.2 some parts in textbook (P, 172)

Part (a) - 3 pts

Part (b) - 3 pts

PROBLEM 5.2 IN THE TEXTBOOK DOESN’T HAVE 2 PARTS, IS IT A DIFFERENT PROBLEM?

6.[ 8 points] Suppose you have estimated a model that explains household food expenditures (in dollars) as a function of household income (in thousand dollars) using 40 observations:

1. [2 pts] Find the value of (1) and explain its (value of (1)) true meaning, show your work.
2. [3 pts] Construct a 90% interval estimate for and intercept term.
3. [3 pts] Test the null hypothesis that the slope of coefficient is zero, against the alternative that it is not, at the 1% level of significance without using the reported p value. Show your work and what is your conclusion?

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