Question: You may need to use the appropriate technology to answer this question.Consider the following data on x = weight (pounds) and y = price ($)
You may need to use the appropriate technology to answer this question.Consider the following data on x = weight (pounds) and y = price ($) for 10 road-racing bikes.
| Brand | Weight | Price ($) |
|---|---|---|
| A | 17.8 | 2,100 |
| B | 16.1 | 6,250 |
| C | 14.9 | 8,370 |
| D | 15.9 | 6,200 |
| E | 17.2 | 4,000 |
| F | 13.1 | 8,600 |
| G | 16.2 | 6,000 |
| H | 17.1 | 2,580 |
| I | 17.6 | 3,300 |
| J | 14.1 | 8,000 |
These data provided the estimated regression equation
= 28,682 1,446x.
For these data, SSE = 7,080,262.93 and SST = 52,559,800. Use the F test to determine whether the weight for a bike and the price are related at the 0.05 level of significance.State the null and alternative hypotheses.
H0: 0 = 0 Ha: 0 0
H0: 1 = 0 Ha: 1 0
H0: 1 0 Ha: 1 = 0
H0: 1 0 Ha: 1 < 0
H0: 0 0 Ha: 0 = 0
Find the value of the test statistic. (Round your answer to two decimal places.)
Find the p-value. (Round your answer to three decimal places.)
p-value =
State your conclusion.
Do not reject H0. We conclude that the relationship between weight (pounds) and price ($) is significant.
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.
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