Question

# You may need to use the appropriate technology to answer this question. Consider the following data...

You may need to use the appropriate technology to answer this question.

Consider the following data on x = weight (pounds) and y = price (\$) for 10 road-racing bikes.

Brand Weight Price (\$)
A 17.8 2,100
B 16.1 6,250
C 14.9 8,370
D 15.9 6,200
E 17.2 4,000
F 13.1 8,500
G 16.2 6,000
H 17.1 2,580
I 17.6 3,300
J 14.1 8,000

These data provided the estimated regression equation

ŷ = 28,458 − 1,433x.

For these data, SSE = 7,312,286.84 and SST = 51,956,800. Use the F test to determine whether the weight for a bike and the price are related at the 0.05 level of significance.

State the null and alternative hypotheses.

H0: β1 ≥ 0
Ha: β1 < 0

H0: β0 = 0
Ha: β0 ≠ 0

H0: β0 ≠ 0
Ha: β0 = 0

H0: β1 ≠ 0
Ha: β1 = 0

H0: β1 = 0
Ha: β1 ≠ 0

Find the value of the test statistic. (Round your answer to two decimal places.)

p-value =

A) Reject H0. We conclude that the relationship between weight (pounds) and price (\$) is significant.

B) Do not reject H0. We conclude that the relationship between weight (pounds) and price (\$) is significant.

C) Reject H0. We cannot conclude that the relationship between weight (pounds) and price (\$) is significant.

D) Do not reject H0. We cannot conclude that the relationship between weight (pounds) and price (\$) is significant.

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