Sorry for the less than stellar quality but here is the ques

Sorry for the less than stellar quality, but here is the question and the corresponding table. I don\'t know how to approach this question.

The estimate of the coefficient on beer tax in column (5) is significant at the 1% level. The estimate in column (4) is significant at the 5% level. Does this mean that the estimate in (5) is more reliable? Sorry for the less than stellar quality, but here is the question and the corresponding table. I don\'t know how to approach this question.

Solution

1% significant leval implies 99% confidence level and 5% significant level implies 95% confidence level.

99% confidence level means given estimate would be true (reliable) at 99% of the times.

95% confidence level means given estimate would be true (reliable) at 95% of the times.

Therefore, estimate at 99% confidence level would be more reliable.

Therefore, estimate in column (5) is more reliable.

Hence estimate at 1% significance level would be more reliable.