(Solved) Tenused cars from a rental fleet are randomly selected. Each vehicles annual maintenance cost from ...

Ten used cars from a rental fleet are randomly selected. Each vehicle’s annual maintenance cost from the previous calendar year (y) is recorded as well as the vehicle’s current mileage (x). A simple linear regression is conducted on the data.

The regression equation is

Maint = 297 + 0.00636 Miles

Predictor Coef SE Coef T P

Constant 296.6 162.4 1.83 0.105

Miles 0.006357 0.003121 2.04 0.076

S = 279.775 R-Sq = 34.1% R-Sq(adj) = 25.9%

Analysis of Variance

Source DF SS MS F P

Regression 1 324727 324727 4.15 0.076

Residual Error 8 626192 78274

Total 9 950919

Conduct a test of hypothesis to see if there is sufficient evidence to conclude that used vehicles with 22,500 miles will have a mean annual maintenance cost that exceeds $400. Select the appropriate critical value (CV), test statistic (TS), and decision. (Use α = 0.05). (Given: S_xx= 803,667,7024 and$\style{font-family:Times New Roman;}{\overline x}$= $43,627.700.)

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CV = 1.8331; TS = 0.1415; fail to rejectH₀

▸

CV = 1.8595; TS = 0.02611; fail to rejectH₀

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CV = 1.8331; TS = 0.2986; fail to rejectH₀

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CV = 1.8595; TS = 0.3589; fail to rejectH₀

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Tenused cars from a rental fleet are randomly selected. Each vehicles annual maintenance cost from ...

Introductory Statistics: A Problem-Solving Approach

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