Question: Cars.com would like to use simple regression to predict the selling price of a used car, in thousands of dollars, based on the age of

Cars.com would like to use simple regression to

Cars.com would like to use simple regression to predict the selling price of a used car, in thousands of dollars, based on the age of the car in years. A random sample of used cars was selected and the result of the regression analysis is shown below. SUMMARY OUTPUT Regression Statistics Multiple R 0.7885 R Square 0.6217 Adjusted R Square 0.5461 Standard Error 1.4528 Observations 7 ANOVA df F Significance F 8.2182 0.0351 Regression Residual Total SS MS 17.3464 17.3464 10.5536 2.1107 27.9 5 Intercept Age Coefficients Standard Error t Stat P-value 11.6881 1.2403 9.4237 0.0002 -0.5072 0.1769 -2.8667 0.0351 Lower 95% Upper 95% 8.4999 14.8764 -0.9620 -0.0524 Which one of the following statements is true using a =0.05? Because the p-value for the t statistic of -2.8667 is 0.0351, smaller than the significance level of a=0.050 , we reject the null hypothesis and conclude that there is significant evidence from the sample data that the age of a used car does influence its selling price. ( Because the p-value for the t statistic of -2.8667 is 0.0002, smaller than the significance level of a=0.050 , we can reject the null hypothesis and conclude that there is evidence from the sample data that the age does influence the selling price of a used car. Because the p-value for the t statistic of -2.8667 is 0.0351, smaller than the significance level of a=0.050 , we can reject the null hypothesis and conclude that there is no relationship between the age and selling price of a used car. D Because the p-value for the t statistic of 1.2403 is 0.0002, smaller than the significance level of a=0.050 , we fail to reject the null hypothesis and we can not conclude that there is a relationship between the age and selling price of a used car

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