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Author Question: The maintenance costs incurred over the past year for a particular make, model, and year of ... (Read 47 times)

jeatrice

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The maintenance costs incurred over the past year for a particular make, model, and year of automobile are given below, along with each car's end-of-year mileage. Use technology to compute a p-value and use it to determine whether the regression equation is useful for making predictions about maintenance costs for this automobile model. Test at the 1% significance level with the hypotheses H0: β1 = 0 and Make sure to eliminate any outliers and/or influential points from the data.


◦ p = 0.00014. Since p < α, reject the null hypothesis. The regression equation is useful for making maintenance cost predictions.
◦ p = 0.00014. Since p < α, do not reject the null hypothesis. The regression equation is not useful for making maintenance cost predictions.
◦ p = 0.02317. Since p > α, do not reject the null hypothesis. The regression equation is not useful for making maintenance cost predictions.
◦ p = 0.02317. Since p > α, reject the null hypothesis. The regression equation is useful for making maintenance cost predictions.


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Marked as best answer by jeatrice on Apr 7, 2020

bd5255

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jeatrice

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Reply 2 on: Apr 7, 2020
YES! Correct, THANKS for helping me on my review


recede

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Reply 3 on: Yesterday
Wow, this really help

 

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