As a kid I thought it would be a nice business idea to sell water bottles to runners that ran on the street outside my house. Naturally, I needed an e

As a kid I thought it would be a nice business idea to sell water bottles to runners that ran on the street outside my house. Naturally, I needed an estimate on how many bottles I should keep in stock each day. To determine this, the following regression would probably have been helpful.runnersi = ?0 + ?1raini + ?irunnersi is the number of runners passing outside my house at day i and raini is a dummy variableequal to 1 if it has been raining during day i and 0 otherwise.a) I expected rain to have a statistically significant negative impact on the number of runners. Formu-late a null and an alternative hypothesis for ?1 that would test this hypothesis.b) After collecting data during 20 days, running the regression gave the following estimates: ??1 = ?16and SE(??1) = 8. What is the t-statistic?c) Use this t-statistic to test your hypothesis on a 5% significance level. Use the attached t-distribution table.