The scatterplot below suggests alinear relationship between the age (in years) of an antique clockand its sale price (in euros) at auction. The data are age and saleprice for 11 antique clocks sold at a recent auction:

http://bcs.whfreeman.com/WebPub/Statistics/bps5e_bridge/question_bank_images/chapter_23-_inference_for_regression/r3-1.png

We fit the least-squares regression line to the modelPrice_i = + Age_i + _i , where the deviations _i are assumed to be independentand Normally distributed, with mean 0 and standard deviation . A summary of the output is given:

http://bcs.whfreeman.com/WebPub/Statistics/bps5e_bridge/question_bank_images/chapter_23-_inference_for_regression/r3-2.png

The intercept of the least-squares regression line is (approximately)

a. 27.73

b. 1.893

c. 34.84

d. 0.267

11. An approximate 95% confidence interval for the slope B in the simple linear regression model is

a. 1.289 to 2.497 euros per year

b.1.289 to 2.497 euros

c.1.289 to 2.497 years per euro

d. None of the above

12. Suppose the researchers test the hypotheses Ho: B=0 Ha: B0

The value of the t statistic for this test is

a. -7.090

b. 1.893

c. 7.090

d. 0.796

13. The correlation between age of antique clock and auction price of antique clock is

a. -0.921

b. 0.921

c. -0.719

d. 0.719

14. Is there strong evidence that there is a straight line dependence between age and auction price in antique clocks?

a. No, because the value of the square of the correlation is relatively small

b. Yes, because the dots in the scatterplot look fairly linear

c. Yes, because the slope of the least-squares line is positive

d. Yes, because the P-value for testing if the slope is 0 is very small

15. Which of the following statements is supported by the scatterplot?

a. There appears to be a linear (as opposed to curved) relationship between age and auction price of antique clocks

b. There appears to be a serious outlier in the plot suggesting that our above results must be interpreted with caution

c. The plot contains strong evidence that the standard deviation of the response about the true regression line is not even approximately the same everywhere

d. The plot suggests that the deviations described by the model aren't Normal in distribution