(Solved) Use the information below to answer the following question(s). Cape May Realty manages rental beach ...

Use the information below to answer the following question(s).

Cape May Realty manages rental beach properties during the summer season for property owners. They would like to determine if a relationship exists between the square footage of beach property and the weekly rental rates during the summer season. Simple regression analysis was performed using a random sample of beach properties with the results shown below.

Which one of the following statements is true using α = 0.05?

▸ Because the p-value for the slope is 0.0423, we can reject the null hypothesis and conclude that there is a relationship between the weekly rental and square footage of beach property.

▸ Because the p-value for the slope is 0.0423, we fail to reject the null hypothesis and conclude that there is a relationship between the weekly rental and square footage of beach property.

▸ Because the p-value for the slope is 0.0870, we can reject the null hypothesis and conclude that there is a relationship between the weekly rental and square footage of beach property.

▸ Because the p-value for the slope is 0.0870, we fail to reject the null hypothesis and conclude that there is no relationship between the weekly rental and square footage of beach property.

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Use the information below to answer the following question(s). Cape May Realty manages rental beach ...

Business Statistics

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