A.Set up the appropriate hypotheses (in plain English) (3 points)

B.Draw appropriate statistical conclusions (based on the printout provided).In your conclusions, make sure to indicate what values you specifically used from the printout (i.e., highlight/mark/circle the relevant values you need from the printout and then use them in your discussion/conclusions). Give the results of your statistical hypothesis test (4 points), interpretation of R Squared (2 points), interpretation of standard error (2 points), and state the regression equation (2 points).

C.Present proper conclusions and recommendations for the business problem (4 points).

6. A list of best-selling cars is shown in the table.The 1988 suggested retail price and the total number sold are given in the table below.

MODEL 1988 Price (in thousands) Number sold (in thousands)

Hyundai 5.4 264

Oldsmobile Cierra 11.4 245

Nissan Sentra 6.4 236

Ford Tempo 9.1 219

Chev. Corsica 10.0 214

Pontiac Grand Am 10.3 211

Toyota Camry 11.2 187

Chev. Caprice 12.5 177

At a = .05, is there evidence of relationship between the two variables?

A H₀:

H₁:

B. Statistical results:

Interpretation of R-sq.:

Interpretation of S.E.:

Regression equation:

C. Conclusion/recommendation:

Please refer to Printout #2 for this problem

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