Use the following to answer the questions below:
Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Hyundai Elantras. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided.
Use three decimal places when reporting the results from any calculations, unless otherwise specified.
The regression equation is Price = 15.3 - 1.71 Age

-Use the computer output to test the slope to determine whether age is an effective predictor of price. Use $\alpha$ = 0.05.
A) There is very strong evidence that age is an effective predictor of price.
B) There is not enough evidence to conclude that age is an effective predictor of price.

Question

Use the following to answer the questions below:
Data were collected on the age (in years) and price (in thousands of dollars) of a random sample of 25 used Hyundai Elantras. A scatterplot of the data (with regression line) and computer output from a regression analysis are provided.
Use three decimal places when reporting the results from any calculations, unless otherwise specified.
The regression equation is Price = 15.3 - 1.71 Age
 
-Use the computer output to test the slope to determine whether age is an effective predictor of price. Use $\alpha$ = 0.05.
A) There is very strong evidence that age is an effective predictor of price. 
B) There is not enough evidence to conclude that age is an effective predictor of price.

Quizplus · Accepted Answer

If the p-value for the slope is less than 0.05, it indicates strong evidence against the null hypothesis, suggesting that age is an effective predictor of price.

Use the Following to Answer the Questions Below: Data Were α\alphaα

Use the Following to Answer the Questions Below:
Data Were $\alpha$