Question
Electric vehicles represent an important and growing market for auto makers around the world. Designing and pricing electric vehicles is critical for those auto makers.
Electric vehicles represent an important and growing market for auto makers around the world. Designing and pricing electric vehicles is critical for those auto makers. To assess evidence about electric vehicle design and pricing, find a sample of 98 electric vehicle models sold in Europe in the Question 1 tab of the Final Exam Workbook. It includes the following variables: Brand Model Price (euros) Accel 0-100 (sec) - Acceleration from 0 to 100 kilometers/hour Top Speed (kmph) Range (km) Efficiency (whkm) - Energy usage per kilometer traveled Charging Rate (kmh) Seats AWD (1=yes, 0=no) - all wheel drive RWD (1=yes, 0=no) - rear wheel drive Note that front wheel drive has no dummy variable and so is the baseline for drivetrain
An automaker suspects that it can charge different prices for vehicles with faster acceleration (Accel), holding everything else equal. Evaluate this suspicion using model from part (a). Specifically, write the null and alternative hypotheses, the appropriate test statistic, the pvalue for that test statistic and your conclusion based on that p-value, at the = .05 level.
Here is the equation from regression analysis:
Price= -73103.5511+3129.579746(Accel)+539.8160543(Top Speed)+51.17002268(Range)+184.1389288(Efficiency)+9.413672578(Charging Rate)-10062.1844(Seats)+10009.33742(AWD)-5372.17713(RWD)+E
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