Answer the followin The National Highway Association is studying the relationship between the number of bidders on a hig

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Answer the followin The National Highway Association is studying the relationship between the number of bidders on a highway project and the winning (lowest) bid for the project. Of particular interest is whether the number of bidders increases or decreases the amount of the winning bid. Number of Bidders, Winning Bid (5 millions), y Project 5.1 9 1 8.0 2 9 9.7 3 7.8 A 10 7.7 5 5.5 10 8.3 7 7 11 5.5 8 6 10.3 8.0 10 8.8 11 4 9.4 12 13 7 8.6 14 7 8.1 15 6 7.8 Click to download the data for RStudio: Bidding.csv Note: This is the same data as the previous homework assignment.

10 pts Question 1 Do these data provide sufficient evidence to indicate that number of bidders and the winning bid are linearly related? In other words, do we have sufficient evidence of a linear relationship between these two variables? (use a = 0.05) No. Risquare is only 49.90% No, the t test for the slope and ANOVA are both significant, meaning there is no relationship, Yes, the t test for the slope and ANOVA are both significant meaning there is a significant linear relationship, O Yes, the t test for the constant is significant, meaning there is a significant linear relationship, D Question 2 5 pts Is the normality assumption satisfied? Yes the assumption is satisfied, because the dots in the normal QQ plot are mostly on the line without distinct deviations Yes the assumption is satisfied, because the dots in the Residuals vs Fitted values plot do not have a distinct pattem No, the assumption is not satisfied because the histogram of residuals display a highly skewed distribution. O No, the assumption is not satisfied because the residuals vs order plot displays a distinct pattern to the dots.

D Question 3 10 pts ents A new entrance is to be constructed on the Ohio Turnpike. There are seven bidders on the project. Use the regression equation to determine the predicted winning bid. O 1.14 million dollars O 0.48 million dollars 1124 million dollars O 7.97 million dollars D Question 4 10 pts Project A has 5 bidders and Project B has 8 bidders. Based on the regression analysis, how much more or less) do you expect Project A's winning bid to be compared to Project B? 0.467 million dollars less 0.467 million dollars more O 1.40 million dollars less 1.40 million dollars more

10 pts D Question 5 What is the residual for project 10? 0 -0.467 O 0.434 O 0.173 O 0.467 Question 6 5 pts Estimate with 99% confidence the average winning bid for all bids with 10 bidders 6.569 million dollars © 15.736, 7401) million dollars (2.927. 10.210) million dollars O 15.153, 7.985) million dollars