A marketing analyst wants to examine the relationship between sales (in $1,000s) and advertising (in $100s) for firms in the food and beverage industry and so collects monthly data for 25 firms. He estimates the model: Sales = β₀ + β₁ Advertising + ε. The following table shows a portion of the regression results. When testing whether the slope coefficient differs from 3, the value of the test statistic is ________. A) t₂₃ = -1.895 B) t₂₃ = -0.079 C) t₂₃ = 0.079 D) t₂₃ = 1.895

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The Answer of A marketing analyst wants to examine the relationship between sales (in $1,000s) and advertising (in $100s) for firms in the food and beverage industry and so collects monthly data for 25 firms. He estimates the model: Sales = β₀ + β₁ Advertising + ε. The following table shows a portion of the regression results. When testing whether the slope coefficient differs from 3, the value of the test statistic is ________. A) t₂₃ = -1.895 B) t₂₃ = -0.079 C) t₂₃ = 0.079 D) t₂₃ = 1.895

A Marketing Analyst Wants to Examine the Relationship Between Sales