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(a) A random sample of eight drivers was taken and measured the years of driving and their monthly insurance premium amount. Perform a hypothesis test

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(a) A random sample of eight drivers was taken and measured the years of driving and their monthly insurance premium amount. Perform a hypothesis test to see if there is a relation between years driving and insurance premium. Please use the following Excel print-outs to answer the questions. SUMMARY OUTPUT Regression Statistics Multiple R 0.5897 R Square 0.7679 Adjusted R Square 0.5213 Observations 8 Standard Coefficients Error t Stat P-value Intercept 76.66 6.961 11.012 0.0000333 X Variable -1.548 0.527 -2.937 0.00498b) The summary bellow corresponds to the Price and Consumption of some beverages in a restaurant in Sydney CVD in 2015 and 2016. Calculate the simple aggregate price index to measure the beverages price increases considering 2015 as the base category. ii) Calculate the average of relative price index to measure the beverages price increases considering 2015 as the base category. Beverage Price $ (Bottle) 2015 2016 Water 3.00 3.50 Fruit Juice 4.50 5.50 Beer 8.50 9.50 Wine 22.00 25.00

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