A sociologist wishes to study the relationship between happiness and age. He interviews 24 individuals and collects data on age and happiness, measured on a scale from 0 to 100. A portion of the data is shown; the en tire data set is found on the text website, labeled Happiness and Age.
Estimate Happiness = β0 + β1Age + ε. At the 1% significance level, is Age significant in explaining Happiness? Show the relevant step s of a hypothesis test using the critical value approach.