Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle. Y X Vehicle Estimated Cost ($) Age (Years) Honda Insight 9312 8 Toyota Prius 13815 5 Toyota Prius 510 10 Toyota Echo 15173 3 Honda Civic Hybrid 6574 7 Chevrolet Prizm 5156 12 Mazda Protégé 13492 4 Toyota Corolla 15803 3 Acura Integra 14225 5 Scion xB 14570 6 Scion xA 11840 12 Mazda 3 18029 3 Mini Cooper 18500 3 Conduct the hypothesis test to determine whether the regression slope coefficient is equal to 0. Test using a significance level of 0.1. d. What are the null and alternate hypotheses? H0: 0 H1: 0 e. Compute the value of the test statistic? (Round your answer to 2 decimal places. Negative values should have a minus sign in front of them) f. Determine the p-value (Round your final answer to 4 decimal places.) g. What is your decision regarding the null hypothesis? multiple choice Reject the null. Fail to reject the null. h. Interpret the result.
Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle. Y X Vehicle Estimated Cost ($) Age (Years) Honda Insight 9312 8 Toyota Prius 13815 5 Toyota Prius 510 10 Toyota Echo 15173 3 Honda Civic Hybrid 6574 7 Chevrolet Prizm 5156 12 Mazda Protégé 13492 4 Toyota Corolla 15803 3 Acura Integra 14225 5 Scion xB 14570 6 Scion xA 11840 12 Mazda 3 18029 3 Mini Cooper 18500 3 Conduct the hypothesis test to determine whether the regression slope coefficient is equal to 0. Test using a significance level of 0.1. d. What are the null and alternate hypotheses? H0: 0 H1: 0 e. Compute the value of the test statistic? (Round your answer to 2 decimal places. Negative values should have a minus sign in front of them) f. Determine the p-value (Round your final answer to 4 decimal places.) g. What is your decision regarding the null hypothesis? multiple choice Reject the null. Fail to reject the null. h. Interpret the result.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Emily Smith decides to buy a fuel-efficient used car. Here are several vehicles she is considering, with the estimated cost to purchase and the age of the vehicle.
| Y | X | |
| Vehicle | Estimated Cost ($) | Age (Years) |
| Honda Insight | 9312 | 8 |
| Toyota Prius | 13815 | 5 |
| Toyota Prius | 510 | 10 |
| Toyota Echo | 15173 | 3 |
| Honda Civic Hybrid | 6574 | 7 |
| Chevrolet Prizm | 5156 | 12 |
| Mazda Protégé | 13492 | 4 |
| Toyota Corolla | 15803 | 3 |
| Acura Integra | 14225 | 5 |
| Scion xB | 14570 | 6 |
| Scion xA | 11840 | 12 |
| Mazda 3 | 18029 | 3 |
| Mini Cooper | 18500 | 3 |
Conduct the hypothesis test to determine whether the regression slope coefficient is equal to 0. Test using a significance level of 0.1.
d. What are the null and alternate hypotheses?
H0: 0
H1: 0
e. Compute the value of the test statistic? (Round your answer to 2 decimal places. Negative values should have a minus sign in front of them)
f. Determine the p-value (Round your final answer to 4 decimal places.)
g. What is your decision regarding the null hypothesis?
multiple choice
-
Reject the null.
-
Fail to reject the null.
h. Interpret the result.
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