Is there significant evidence, at (alpha) α = 0.05, of a linear relationship between the size (height) of a miniature horse (x, in mm) and the price it sells for (y, in $). ? What is your conclusion?
Miniature horses are a special breed of very very small horse. A minuature horse breeder is interested in the relationship between the size (height) of a miniature horse (x, in mm) and the price it sells for (y, in $). She decides to fit the simple linear regression model:
E(y) = β0 + β1x
A
Estimated slope coefficient (estimate for β1) = -7.0
Standard error for the slope coefficient = 4.0
Test statistic for the slope coefficient t = 1.750, to 3 decimal places, n-2 = 58 df
P-value for the slope coefficient = 0.08541 (to 5 decimal places).
Is there significant evidence, at (alpha) α = 0.05, of a linear relationship between the size (height) of a miniature horse (x, in mm) and the price it sells for (y, in $). ? What is your conclusion?
a. yes
b. no
Step by step
Solved in 2 steps
