Question
Consider the following data on x = weight (pounds) and y = price ($) for 10 road-racing bikes. Brand Weight Price ($) A 17.8 2,100
Consider the following data on x = weight (pounds) and y = price ($) for 10 road-racing bikes.
Brand | Weight | Price ($) |
---|---|---|
A | 17.8 | 2,100 |
B | 16.1 | 6,350 |
C | 14.9 | 8,370 |
D | 15.9 | 6,200 |
E | 17.2 | 4,000 |
F | 13.1 | 8,700 |
G | 16.2 | 6,000 |
H | 17.1 | 2,580 |
I | 17.6 | 3,500 |
J | 14.1 | 8,000 |
These data provided the estimated regression equation
= 28,692 1,445x.
For these data, SSE = 7,097,898.62 and SST = 52,461,800. Use the F test to determine whether the weight for a bike and the price are related at the 0.05 level of significance.State the null and alternative hypotheses.H0: 1 0 Ha: 1 = 0H0: 0 0 Ha: 0 = 0 H0: 1 = 0 Ha: 1 0H0: 1 0 Ha: 1 < 0H0: 0 = 0 Ha: 0 0Find the value of the test statistic. ?(Round your answer to two decimal places.)Find the p-value. ?(Round your answer to three decimal places.)p-value = State your conclusion.Do not reject H0. We cannot conclude that the relationship between weight (pounds) and price ($) is significant.Reject H0. We cannot conclude that the relationship between weight (pounds) and price ($) is significant. Reject H0. We conclude that the relationship between weight (pounds) and price ($) is significant.Do not reject H0. We conclude that the relationship between weight (pounds) and price ($) is significant.
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