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Author Question: An automobile dealer wants to see if there is a relationship between monthly sales and the interest ... (Read 58 times)

amymoore

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on: Mar 25, 2023

Question 1

A regression and correlation analysis resulted in the following information regarding an independent variable (x) and a dependent variable (y).

 

ΣX = 42

ΣY = 63

n = 7

Σ (Y - )(X - ) = 37

Σ (X - )2 = 84

Σ (Y -
     


a. = 6.3571 + 0.4405x
b.p-value < .05; reject Ho
c.p-value < .05; reject Ho
d.0.582


Question 2

An automobile dealer wants to see if there is a relationship between monthly sales and the interest rate. A random sample of 4 months was taken. The results of the sample are presented below. The estimated least squares regression equation is

= 75.061 - 6.254X

Y

X

Monthly Sales

Interest Rate (In Percent)

22

  9.2

20

  7.6

10

10.4

45

  5.3


a.Obtain a measure of how well the estimated regression line fits the data.
b.You want to test to see if there is a significant relationship between the interest rate and monthly sales at the 1% level of significance. State the null and alternative hypotheses.
c.At 99% confidence, test the hypotheses.
d.Construct a 99% confidence interval for the average monthly sales for all months with a 10% interest rate.
e.Construct a 99% confidence interval for the monthly sales of one month with a 10% interest rate.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by amymoore on Mar 25, 2023

GoldenBrown

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Reply #1 on: Mar 25, 2023
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amymoore

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Reply 2 on: Mar 25, 2023
Great answer, keep it coming :)

dawsa925

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Reply 3 on: Yesterday
Gracias!

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