Refer to the previous exercise about the association between the age and price of used Honda Civics. Consider conducting a test of significance to investigate whether the sample data provide strong evidence of an association between a car’s price and age in the population of used Honda Civics. The data are in the file UsedHondaCivics.
a. Enter the data into the Corr/Regression applet and conduct a simulation-based test of significance using the correlation coefficient as the statistic. Report the approximate p-value.
b. Interpret the p-value reported in part (a).
c. Summarize your conclusion (significance, causation, generalizability) from this simulation analysis. Also describe the reasoning process by which your conclusion follows from your simulation results.

Data from previous exercise

The data in the file UsedHondaCivics come from a sample of used Honda Civics listed for sale online in July 2006. Th e variables recorded in this data file are the car’s age (calculated as 2006 minus year of manufacture) and price. Consider conducting a simulation analysis to test whether the sample data provide strong evidence of an association between a car’s price and age in the population.