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The following data lists age (x, in years) and FICO credit score (y) for 15 random...

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Statistics

The following data lists age (x, in years) and FICO credit score(y) for 15 random credit card customers. At the 10% significancelevel, use Excel to test the claim that age and credit score arelinearly related by specifying the slope estimate, p-value andfinal conclusion below. Do not round any intermediate calculations.Round your slope estimate answer to 2 decimal places. Round yourp-value to 4 decimal places. Enter a \"−\" sign in front of anynegative answer.

Slope estimate =

p-value =

Final conclusion:

The data does not support the claim that age and credit scoreare linearly related.

The data supports the claim that age and credit score arelinearly related.

Age Credit Score

68 603

61 805

45 774

73 661

80 793

69 611

25 575

42 732

47 515

26 714

71 702

69 792

27 791

79 660

72 713

Answer & Explanation Solved by verified expert
4.0 Ratings (685 Votes)

Using Excel, go to Data, Select Data Analysis, choose Regression. Put Age in X input range and Credit score in Y input range. Put confidence level = 90

SUMMARY OUTPUT
Regression Statistics
Multiple R 0.0627
R Square 0.0039
Adjusted R Square -0.0727
Standard Error 93.1960
Observations 15
ANOVA
df SS MS F Significance F
Regression 1 445.5950 445.5950 0.0513 0.8243
Residual 13 112911.3384 8685.4876
Total 14 113356.9333
Coefficients Standard Error t Stat P-value
Intercept 679.8155 75.6761 8.9832 0.0000
Age 0.2854 1.2602 0.2265 0.8243

Slope estimate = 0.29

p-value (Significance F) = 0.8243

H0: Age and credit score are not linearly related

H1: Age and credit score are linearly related

p-value = 0.8243

Since p-value is more than 0.10, we do not reject the null hypothesis.

The data does not support the claim that age and credit score are linearly related.
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