The table below shows the number of cars sold last month by seven employees at Concord Motors and their number of years of sales experience.
Management would like to use simple regression analysis to estimate monthly car sales using the number of years of sales experience. Which one of the following statements describes the results of the hypothesis test that the population slope is not equal to zero using
α = 0.05?
▸ Because the absolute value of the test statistic is less than the absolute value of the critical value, we fail to reject the null hypothesis and cannot conclude that the population slope is not equal to zero.
▸ Because the absolute value of the test statistic is less than the absolute value of the critical value, we can reject the null hypothesis and conclude that the population slope is equal to zero.
▸ Because the absolute value of the test statistic is greater than the absolute value of the critical value, we can reject the null hypothesis and conclude that the population slope is not equal to zero.
▸ Because the absolute value of the test statistic is greater than the absolute value of the critical value, we fail to reject the null hypothesis and conclude that the population slope is equal to zero.
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