Car Mileage and Price I believe that cars with more mileage are worth less money. I decide to run a statistical analysis at the a = 0.01 significance level to test my claim. From a large website specializing in selling used cars. l sample 6 used 2012 sedans at random. For each sedan, I record its mileage and the price that the car is listed at. Data are as follows: Mileage Price 139650 6140 53930 14540 74290 11380 110570 6670 122180 7820 92670 7750 Assume that responses follow the model Price : BC + [31(Mileage) + 8 Where the error terms 8 satisfy the standard regression assumptions. 3. (2pts) Compute the correlation between price and mileage. (Round answers to 4 decimal points) Correlation: b. (Zpts) Which of the following is NOT an assumption made on the standard regression assumptions? O They are all independent of each other 0 They all have the same standard deviation 0 They all follow a binomial distribution 0 They all have mean (expected value) 0 c. (Zpts) Which of the following is true about the regression line? 0 The regression line minimizes the MSE of forecast errors. O The regression line is the line with the largest prediction accuracy. O The regression line minimizes the sum of the squares of the residuals. 0 Regression may only be performed if the standard regression assumptions hold. 0 All of the above. d. (1pt) Is the slope of the regression line positive or negative? O Positive O Negative O Neither O There is not enough information to tell. e. (1pt) What is the null hypothesis for your hypothesis test? O Ho: Bo > o O Ho: Bo 0 O HO : B1 0 O Ha: Bo 0 O Ha : B1