Usually I am determining if a regressand is statistically different than 0. How do I determine if it is statistically different than 1?
Thanks.
Testing statistically different than uses the same t-critical values as two tailed test but the t-value is found by:
$\displaystyle \displaystyle t=\frac{\hat{\beta}-1}{se(\hat{\beta})}\Rightarrow \begin{cases}
|t|>t-crit, & \mbox{reject the null that}\ \hat{\beta}=1 \\
|t|\leq t-crit , & \mbox{fail to reject the null}
\end{cases}$
If you want to find out if it is statistically different than -1, you add 1 to beta hat.