Suppose you are interested in buying a new Lincoln Navigator or Town Car. You are standing on the sales lot looking at a model with different options. The list price is on the vehicle. As a salesperson approaches, you wonder what the dealer invoice price is for this model with its options. The following data are based on a random selection of these cars of different models and options. Let y be the dealer invoice (in thousands of dollars) for the given vehicle. x 32.4 32.9 36.1 44.0 47.8 y 30.4 31.0 32.0 42.1 42.2 (b) Use a 10% level of significance to test the claim that ρ > 0. (Use 2 decimal places.) t ? critical t ? (c) Verify that Se ≈ 1.5629, a ≈ 2.5006, and b ≈ 0.8551. Se ? a ? b ? (e) Find a 95% confidence interval for y when x = 42 (thousand dollars). (Use 2 decimal place.) lower limit ? upper limit ? (f) Use a 10% level of significance to test the claim that β > 0. (Use 2 decimal places.) t ? critical t ?

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Suppose you are interested in buying a new Lincoln Navigator or Town Car. You are standing on the sales lot looking at a model with different options. The list price is on the vehicle. As a salesperson approaches, you wonder what the dealer invoice price is for this model with its options. The following data are based on a random selection of these cars of different models and options. Let y be the dealer invoice (in thousands of dollars) for the given vehicle.

x 32.4 32.9 36.1 44.0 47.8
y 30.4 31.0 32.0 42.1 42.2

(b) Use a 10% level of significance to test the claim that ρ > 0. (Use 2 decimal places.)

t ?
critical t ?

(c) Verify that Se ≈ 1.5629, a ≈ 2.5006, and b ≈ 0.8551.

Se ?
a ?
b ?

(e) Find a 95% confidence interval for y when x = 42 (thousand dollars). (Use 2 decimal place.)

lower limit ?
upper limit ?

(f) Use a 10% level of significance to test the claim that β > 0. (Use 2 decimal places.)

t ?
critical t ?

 

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