The Following Data Have Been Collected for a Simple Linear

Multiple Choice

The following data have been collected for a simple linear regression analysis relating sales (y) to price (x) : In applying the least squares criterion, the slope (b) and the intercept (a) for the best-fitting line are b = -12 and a = 162.You are to conduct a hypothesis test to determine whether you can reject the null hypothesis that the population slope, β, is 0 at the 1% significance level.Report the value of the appropriate sample test statistic, t_stat.

A) -2.27
B) -1.23
C) -4.16
D) -3.52
E) -3.01