(Solved) Use the information below to answer the following question(s). Cars.com would like to use simple ...

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.

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Use the information below to answer the following question(s). Cars.com would like to use simple ...

Business Statistics

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