Answer Happy

In order to examine the relationship between the selling price of a used car and its age, an analyst uses data from 22 recent transactions and estimates Price = 0 + 0, Age + £. A portion of the regression results is shown in the accompanying table. (You may find it useful to reference the table.) Standard Coefficients Error t Stat p-value Intercept 21,214.92 735.43 28.847 9.03E-18 Age -1,206.21 126.94 7.42-09 o. Specify the competing hypotheses in order to determine whether the selling price of a used car and its age are linearly related O Mo: 0; 20; HA: 0 < OHot 01 0; нд ва + 0 Hol og s; MA > b. Calculate the value of the test statistic (Negative value should be indicated by a minus sign. Round your answer to 3 decimal ploces.) Test statistic

c-1. Find the p-value O p-value > 0.10 O 0.05 s p-value <0.10 O 0.02 s p-value <0.05 O 0.01 s p-value < 0.02 O p-value < 0.01 c-2. At the 1% significance level, is the age of a used car significant in explaining its selling price? we conclude that the age of a used car is significant in explaining its selling price

d-1. Conduct a hypothesis test at the 1% significance level in order to determine if 6, differs from-1000 (Negative value should be indicated by a minus sign. Round your answer to 3 decimal places.) Tent statistie d-2. Find the p-value 0.05 cp value <010 0.02 s p value 0.05 001 s p value <0.02 Op value 0.01 Op value 2010 d-3. What is the conclusion to the test2 conclude that 1000