# Results memo — association between y and x (monthly, 1990-01 to 2023-04)

Prepared by the previous analyst. Method: ordinary least squares of y on x with an intercept, using all 400 monthly observations
in `series.csv`. Standard errors are the conventional OLS standard errors (independent, homoskedastic errors).

| quantity | value |
|---|---|
| intercept | 2.0925 |
| slope on x | 0.1017 |
| standard error of the slope | 0.0448 |
| t-statistic | 2.27 |
| p-value (two-sided) | 0.0238 |
| observations | 400 |

Conclusion of the memo: the slope is statistically significant at the 5% level, so x is a significant predictor of y.