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...

Extracted text: 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 = Bo + B1 Advertising + ɛ. The following table shows a portion of the regression results. Coefficients Standard Error t-stat p-value Intercept 41.1 13.88 2.961 0.0046 Advertising 2.72 1.7 -1.6 0.0586 When testing whether the slope coefficient differs from 3, the value of the test statistic is Multiple Choice t23 = 1.809 t23 = 0.165 t23 = -0.165 t23 =-1.809