Help me out with specific steps and calculation to this ques

Help me out with specific steps and calculation to this question. Lots of thanks! The following equation is an estimated regression equation, given in the form Y-hat = ?0-hat + ?1-hatX1, or what your book calls y-hat = a + bx: Y-hati = 545.25 + 131.85Xi where Y is combined math and verbal SAT score, measured so that 1 = 1 point, etc. (possible range is from 400 points -1600 points) X is high school Grade Point Average (GPA), measured so that 4.0 = A, 3.0 = B, etc. Below is some information provided by the computer program that estimated this equation. Answer the following questions for the equation. [3 points]

How does the computer come up with the t-value of 3.23? Show work. [2 points]

When do we observe a negative t-value in regression output? [1 point]

Is the estimated slope statistically significant? Make it clear how you decide. [2 points] Is the estimated slope substantively significant? Briefly explain. [2 points]

Produce a confidence interval for the parameter estimate for “GPA.” [2 points]

Solution