Consider the following data on x - weight (pounds) and y - price ($) for 10 road-racing bikes. Brand Weight Price ($) A 17.8 2,100 16.1 6,250 14.9 8,370 15.9 6,200 17.2 4,000 F 13.1 8,700 16.2 6,000 17.1 2,680 17.6 3,400 14.1 8,000 These data provided the estimated regression equation ý = 28,727 - 1,447x. For these data, SSE = 6,615,389.88 and SST = 52,152,800. Use the Ftest 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. O H: .0 O Hgi Bo -0 O Hg: P -0 O Hg: P-0 O Hạ: P 20 Find the value of the test statistic. (Round your answer to two decimal places.) Find the prvalue. (Round your answer to three decimal places.) p-value - State your conclusion. O Do not reject H. We cannot conclude that the relationship between weight (pounds) and price ($) is significant. O Reject Hg. We conclude that the relationship between weight (pounds) and price ($) is significant. O Do not reject H. We conclude that the relationship between weight (pounds) and price ($) is significant. O Reject H. We cannot conclude that the relationship between weight (pounds) and price ($) is significant.
Consider the following data on x - weight (pounds) and y - price ($) for 10 road-racing bikes. Brand Weight Price ($) A 17.8 2,100 16.1 6,250 14.9 8,370 15.9 6,200 17.2 4,000 F 13.1 8,700 16.2 6,000 17.1 2,680 17.6 3,400 14.1 8,000 These data provided the estimated regression equation ý = 28,727 - 1,447x. For these data, SSE = 6,615,389.88 and SST = 52,152,800. Use the Ftest 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. O H: .0 O Hgi Bo -0 O Hg: P -0 O Hg: P-0 O Hạ: P 20 Find the value of the test statistic. (Round your answer to two decimal places.) Find the prvalue. (Round your answer to three decimal places.) p-value - State your conclusion. O Do not reject H. We cannot conclude that the relationship between weight (pounds) and price ($) is significant. O Reject Hg. We conclude that the relationship between weight (pounds) and price ($) is significant. O Do not reject H. We conclude that the relationship between weight (pounds) and price ($) is significant. O Reject H. We cannot conclude that the relationship between weight (pounds) and price ($) is significant.
Chapter4: Linear Functions
Section: Chapter Questions
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Transcribed Image Text:Consider the following data on x = weight (pounds) and y = price ($) for 10 road-racing bikes.
Brand
Weight Price ($)
A
17.8
2,100
В
16.1
6,250
14.9
8,370
15.9
6,200
E
17.2
4,000
F
13.1
8,700
G
16.2
6,000
17.1
2,680
I
17.6
3,400
14.1
8,000
These data provided the estimated regression equation ý = 28,727 - 1,447x. For these data, SSE = 6,615,389.88 and SST = 52,152,800. 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.
O Ho: Bo + 0
H: Bo = 0
O Ho: Bo = 0
H,: Bo + 0
O Ho: B1 = 0
H: B * 0
H.:
O Ho: B, + 0
H: B, = 0
O Ho: B, 20
H: B, < 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.
O Do not reject H,. We cannot conclude that the relationship between weight (pounds) and price ($) is significant.
O Reject H. We conclude that the relationship between weight (pounds) and price ($) is significant.
O Do not reject H.. We conclude that the relationship between weight (pounds) and price ($) is significant.
O Reject H,. We cannot conclude that the relationship between weight (pounds) and price ($) is significant.
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