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Question: the usda collects data on commodity prices and consumption use...

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The USDA collects data on commodity prices and consumption. Use their data to explain per-capita chicken consumption as a function of the price of chicken. (Note that economic theory suggests that an increase in a commodity price is generally associated with a decrease in demand.) -per capita chicken consumption PCHICK consumer price index for chicken We estimated a linear regression model using annual data for 1950-2001 (N 52) Dependent variable: coefficient std. error const PCHICK -0.1 0.1 R-squared: 0.854880 a. Write the equation for the least-squares regression line: b. The null hypothesis is: (e)0 c. Calculate the t-ratio d. The critical value, evaluated at α = 0.05 , for the t distribution (with N-2 df) is e. Can we reject the null hypothesis? V (pick one) yes no

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