Question

Consider the following data on x = weight (pounds) and y = price ($) for 10...

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 8,600
G 16.2 6,000
H 17.1 2,580
I 17.6 3,400
J 14.1 8,000

These data provided the estimated regression equation

ŷ = 28,574 − 1,439x.

For these data, SSE = 7,102,922.54 and SST = 52,120,800. 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: β1 ≠ 0
Ha: β1 = 0   

H0: β0 = 0
Ha: β0 ≠ 0

H0: β0 ≠ 0
Ha: β0 = 0

H0: β1 = 0
Ha: β1 ≠ 0

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

Find the p-value. (Round your answer to three decimal places.)

p-value =

State your conclusion.

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

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

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

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

Homework Answers

Answer #1

The statistical software output for this problem is :

H0: β1 = 0
Ha: β1 ≠ 0

Test statistics = -7.12

P-value = 0.000

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

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Consider the following data on x = weight (pounds) and y = price ($) for 10...
Consider the following data on x = weight (pounds) and y = price ($) for 10 road-racing bikes. Brand Weight Price ($) A 17.8 2,100 B 16.1 6,250 C 14.9 8,370 D 15.9 6,200 E 17.2 4,000 F 13.1 8,600 G 16.2 6,000 H 17.1 2,680 I 17.6 3,400 J 14.1 8,000 These data provided the estimated regression equation ŷ = 28,503 − 1,434x. For these data, SSE = 6,833,947.38 and SST = 51,535,800. Use the F test to determine...
Consider the following data on x = weight (pounds) and y = price ($) for 10...
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 6,350 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 2,680 I 17.6 3,500 J 14.1 8,000 These data provided the estimated regression equation  ŷ = 28,175 − 1,413x. For these data, SSE = 7,270,445.08 and SST = 50,662,800. Use the F test to determine whether...
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...
Consider the following data on x = weight (pounds) and y = price ($) for 10...
Consider the following data on x = weight (pounds) and y = price ($) for 10 road-racing bikes. Brand Weight Price ($) A 17.8 2,100 B 16.1 6,150 C 14.9 8,370 D 15.9 6,200 E 17.2 4,000 F 13.1 8,600 G 16.2 6,000 H 17.1 2,480 I 17.6 3,300 J 14.1 8,000 These data provided the estimated regression equation  ŷ = 28,750 − 1,452x. For these data, SSE = 7,198,472.68 and SST = 53,025,800.Use the F test to determine whether the...
Consider the following data on x = weight (pounds) and y = price ($) for 10...
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 6,150 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 2,680 I 17.6 3,400 J 14.1 8,000 These data provided the estimated regression equation ŷ = 28,277 − 1,421x. For these data, SSE = 6,903,351.24 and SST = 50,805,800. Use the F test to determine...
Consider the following data on price ($) and the overall score for six stereo headphones tested...
Consider the following data on price ($) and the overall score for six stereo headphones tested by a certain magazine. The overall score is based on sound quality and effectiveness of ambient noise reduction. Scores range from 0 (lowest) to 100 (highest). Brand Price ($) Score A 180 74 B 150 71 C 95 63 D 70 54 E 70 38 F 35 24 (a) The estimated regression equation for this data is ŷ = 21.659 + 0.323x, where x...
Consider the data. xi 2 6 9 13 20 yi 7 18 10 26 25 (a)...
Consider the data. xi 2 6 9 13 20 yi 7 18 10 26 25 (a) What is the value of the standard error of the estimate? (Round your answer to three decimal places.) (b) Test for a significant relationship by using the t test. Use α = 0.05. State the null and alternative hypotheses. H0: β0 = 0 Ha: β0 ≠ 0H0: β1 ≥ 0 Ha: β1 < 0    H0: β1 ≠ 0 Ha: β1 = 0H0: β0 ≠ 0...
You may need to use the appropriate technology to answer this question. Consider the following data...
You may need to use the appropriate technology to answer this question. Consider the following data on price ($) and the overall score for six stereo headphones tested by a certain magazine. The overall score is based on sound quality and effectiveness of ambient noise reduction. Scores range from 0 (lowest) to 100 (highest). Brand Price ($) Score A 180 76 B 150 69 C 95 63 D 70 56 E 70 38 F 35 28 (a) The estimated regression...
Consider the data. xi 2 6 9 13 20 yi 5 16 8 24 23 (a)...
Consider the data. xi 2 6 9 13 20 yi 5 16 8 24 23 (a) What is the value of the standard error of the estimate? (Round your answer to three decimal places.) (b) Test for a significant relationship by using the t test. Use α = 0.05. State the null and alternative hypotheses. H0: β0 ≠ 0 Ha: β0 = 0 H0: β1 ≠ 0 Ha: β1 = 0     H0: β1 = 0 Ha: β1 ≠ 0 H0:...
You may need to use the appropriate technology to answer this question. Consider the following data...
You may need to use the appropriate technology to answer this question. Consider the following data on price ($) and the overall score for six stereo headphones tested by a certain magazine. The overall score is based on sound quality and effectiveness of ambient noise reduction. Scores range from 0 (lowest) to 100 (highest). Brand Price ($) Score A 180 76 B 150 71 C 95 61 D 70 58 E 70 42 F 35 28 (a) The estimated regression...