Chapter 9, Problem 9.47AC

CarMD reports that the cost of repairing a hybrid vehicle is falling even while typical repairs on conventional vehicles are getting more expensive. One of the most common hybrid repairs, replacing the hybrid inverter assembly, had a mean repair cost of $1,357 in 2014. (Data extracted from 2015 CarMD Vehicle Health Index, available at bitly.com/1Gd3tjg.) Industry experts suspect that the cost will continue to decrease given the increase in the number of technicians who have gained expertise on fixing gas- electric engines in recent months. Suppose a sample of 100 hybrid inverter assembly repairs completed in the last month was selected. The sample mean repair cost was $1,280 with the sample standard deviation of $300. a. Is there evidence that the population mean repair cost is less than $1,357? (Use a 0.05 level of significance.) b. Determine the p-value and interpret its meaning. Need assistance to understand calculation of p-value

Give an example of a study that would collect univariate and quantitative data.

Coconut groove claims it's still the best in Ghana despite stiff competition from fiesta royal, La palm and others. It has impact on price restructing and adverts to boost demand for the coming year. It has a number of outlets each having data on the number of meals served which is progressed against average price per meal( P in GHS),  competitors price( P in GHS), adverts in each outlets immediate service area( A in GHS), the average income per household in each outlet service area (Y in GHS). Use this information to answer the questions below.     Q P PC A Y Q 1.00         P -0.73 1.00       PC 0.41 -0.11 1.00     A 0.31 -0.08 0.43 1.00   Y 0.38 0.03 -0.19 -0.20 1.00 Which three pairs of variables are perfectly correlated. Which three pairs of variables may be mostly strongly correlated with the response variable. Which purpose of variables made mostly multicollinear Which three pairs of variables are least multicollinear Which three pairs of variables are least…