l)(Intercept XXXXXXXXXX XXXXXXXXXXsp500 XXXXXXXXXX XXXXXXXXXX**The number of observations is 32. At the 1% significance level, what is the (1) teststatistic value: (2) the critical values; and (3)...

Extracted text: Consider the coefficient estimates of the following market model linear regression of General Motors (GM) on the S&P500 market returns, Coefficients: Estimate Std. Error t value Prt>l) (Intercept) 0.005860 0.003704 1582 0.12412 sp500 0.904753 0.266702 3.392 0.00196** The number of observations is 32. At the 1% significance level, what is the (1) test statistic value: (2) the critical values; and (3) decision, regarding the null hypothesis that the beta coefficient on the market returns is equal to 1.61? test statistic = -2.6443 critical values = 2.5758. reject HO test statistic = -2.6443 critical values 2.75 do not reject HO Ctest statistic = 3.392: critical values 25758 do not reject HO tellstatisHE=:3.392 critical values =2.75 reject HO