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Heeey17 Heeey17
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2 weeks ago
Use the information below to answer the following question(s).

Cars.com would like to use simple regression to predict the selling price of a used car, in thousands of dollars, based on the age of the car in years. A random sample of used cars was selected and the result of the regression analysis is shown below. 




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

▸ Because the p-value for the slope is 0.0002, we can reject the null hypothesis and conclude that there is a relationship between the age and selling price of a used car.

▸ Because the p-value for the slope is 0.0002, we fail to reject the null hypothesis and conclude that there is a relationship between the age and selling price of a used car.

▸ Because the p-value for the slope is 0.0351, we can reject the null hypothesis and conclude that there is a relationship between the age and selling price of a used car.

▸ Because the p-value for the slope is 0.0351, we can reject the null hypothesis and conclude that there is no relationship between the age and selling price of a used car.
Textbook 

Business Statistics


Edition: 2nd
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ButwhyButwhy
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Because the p-value for the slope is 0.0351, we can reject the null hypothesis and conclude that there is a relationship between the age and selling price of a used car.

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