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A survey is conducted to determine whether the age of car influences the annual maintenance cost. A sample of 10 cars is selected and the

A survey is conducted to determine whether the age of car influences the annual maintenance cost. A sample of 10 cars is selected and the data is shown below.

Age of Car (months) xAnnual Maintenance Costs ($) y
3120
5115
6135
7290
9275
10300
11350
13475
14500
15550

a. Test whether each of the regression parameters β0 and β1 is equal to zero at a 0.05 level of significance.

b. Interpret the estimated regression parameters. Are these interpretations reasonable?


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