Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. consider the following data on x = weight (pounds)

Consider the following data on x = weight (pounds) and y = price ($) for 10...

50.1K

Verified Solution

Question

Statistics

Consider the following data on x = weight (pounds) andy = price ($) for 10 road-racing bikes.

BrandWeightPrice ($)
A17.82,100
B16.16,250
C14.98,370
D15.96,200
E17.24,000
F13.18,500
G16.26,000
H17.12,580
I17.63,500
J14.18,000

These data provided the estimated regression equation

ŷ = 28,243 − 1,418x.

For these data, SSE = 7,368,713.71 and SST = 51,100,800. Use theF test to determine whether the weight for a bike and theprice are related at the 0.05 level of significance.

State the null and alternative hypotheses.

H0: β0 ≠ 0
Ha: β0 =0H0: β1 ≠ 0
Ha: β1 =0    H0:β0 = 0
Ha: β0 ≠0H0: β1 = 0
Ha: β1 ≠0H0: β1 ≥ 0
Ha: β1 < 0

Find the value of the test statistic. (Round your answer to twodecimal places.)

Find the p-value. (Round your answer to three decimalplaces.)

p-value =

State your conclusion.

Reject H0. We cannot conclude that therelationship between weight (pounds) and price ($) issignificant.Do not reject H0. We conclude thatthe relationship between weight (pounds) and price ($) issignificant.    Do not rejectH0. We cannot conclude that the relationshipbetween weight (pounds) and price ($) is significant.RejectH0. We conclude that the relationship betweenweight (pounds) and price ($) is significant.

Answer & Explanation Solved by verified expert
4.0 Ratings (723 Votes)
    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Are the following triangles congruent f so which shortcut did you use to determine the...

Geometry
Q

In this exercise, find the values of the unknown constants so that the indicated conditions...

Basic Math
Q

A rigid, sealed container of R134a initially at -30°C and 40% quality is placed inside a...

Mechanical Engineering
Q

Which one between unemployment and inflation do you think is more inportant to stabilize if the...

Economics
Q

What are some typical applications for stepper motors and what do engineers do to make sure...

Electrical Engineering
Q

5 How should someone who wants to improve their performance as a soccer player train...

Biology
Q

Find the three arithmetic means between 41 and 109 41 109 55 71 95 56...

Algebra
Q

For both the current year and one year ago, compute the following ratios:...

Accounting
Q

Prepare the journal entries for the following petty cash transactions of Pawnee Gaming Supplies: -...

Accounting
Q

Compound Interest EXERCISES 3. If P48,000.00 is invested at the rate of 16% compounded quarterly,...

Accounting
Q

Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total...

Accounting
Q

Min Li is auditing RRR Services Inc. and has designed the following tests: 1....

Accounting