Author Question: An automobile dealer wants to see if there is a relationship between monthly sales and the interest ... (Read 25 times)

amymoore · **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 H_o
c.	p-value < .05; reject H_o
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 ¦ 7^th Edition

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Marked as best answer by amymoore on Mar 25, 2023

GoldenBrown

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Posts: 166

Reply #1 on: Mar 25, 2023

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amymoore

Member
Posts: 161

Reply 2 on: Mar 25, 2023

Great answer, keep it coming

bimper21

Member
Posts: 309

Reply 3 on: Yesterday

Wow, this really help

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