The large national bank charges local companies for using theirservices. A bank official reported the results of a regression analysisdesigned to predict the bank's charges (Y), measured in RM permonth for services rendered to local companies. One independentvariable used to predict service charge to a company is the thecompany's sales revenue (X), measured in millions of RM. Data for 21companies who use the bank's services were used to fit the model.The results of the simple linear regression are provided below. Basedon results below, interpret the p-value for testing whether B exceeds0. *ŷ = -2,700 + 20XSxy = 65,two – tailed p – value = 0.034 (for testing B1There is sufficient evidence (at the alpha = 0.05) to conclude that sales revenue(X) is a useful linear predictor of service charge (Y).There is insufficient evidence (at the alpha = 0.10) to conclude that salesrevenue (X) is a useful linear predictor of service charge (Y).O Sales revenue (X) is a poor predictor of service charge (Y).For every RM1 million increase in sales revenue, we expect a service charge toincrease RM0.034.

It is given that X : sales revenue, Y = service charge, P-value(two-tailed) = 0.034

Answered: The results of the simple linear…

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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The results of the simple linear regression are provided below. Based on results below, interpret the p-value for testing whether B exceeds 0. * ŷ = -2,700 + 20x Sxy = 65, two – tailed p – value = 0.034 (for testing A %3D