Question: 1. A study was conducted showing the relationship between the average maintenance cost and the age of a car in years. Number of observations:

1. A study was conducted showing the relationship between the average maintenance

1. A study was conducted showing the relationship between the average maintenance cost and the age of a car in years. Number of observations: 13 Coefficients Least Standard T Squares Parameter Estimate Error Statistic P-Value Intercept 54.7757 Slope 120.689 54.87 11.8442 0.998282 0.3396 10.1898 0.0000 Correlation Coefficient 0.950898 R-squared 90.4207 percent Standard Error of Est. 80.5993 a) What is the form, direction, and strength of the correlation? [2 marks] b) What is the formula for the regression function based on the output above (Write your equation in the context of question)? [1mark] c) Interpret the slope of the regression equation (In the context of question)? [2marks] d) Construct an 95% interval to predict the maintenance cost for a car that is 7 years old? [2 marks] e) Based on this analysis, can we conclude that a relationship exists between the maintenance cost and the age of the car in years? What is the null and alternative hypothesis? Justify your answer using three steps process. [3 marks]

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