In exercise 20, data on x = weight (pounds) and y = price ($) for ten road-racin

Question

In exercise 20, data on x = weight (pounds) and y = price ($) for ten road-racing bikes provided the estimated regression equation  = 28574 -1439x (Bicycling website, March 8, 2012). For these data SSE = 7,102,922.54 and SST = 52,120,800. Use the F test to determine whether the weight for a bike and the price are related at the .05 level of significance.

A. Calculate the value of the test statistic (to 1 decimal).

B. The p-value is - Select your answer -less than .01between .01 and .025between .025 and .05between .05 and .10greater than .10Item 2 .

C. What is your conclusion?
- Select your answer -Conclude that weight and price are related.Do not conclude that weight and price are related.

Explanation / Answer

The ANOVA table will be:

Hence,

A. Test statistic = 50.7

B. p - value is less than 0.01. Option A is correct.

C. Conclude that weight and price are related. Option A is correct.

Since F dist > Critical Value we reject null hypothesis that weight of bike and price are not related.

Note : Critical value = F(0.05,1,8) = 5.32

Source Df SS Mean Square F P - VALUE Regression 1 45017877.46 45017877.46 50.7 <0.0001 Error 8 7102922.54 887865.3175 Total 9 52120800

Hence,

A. Test statistic = 50.7

B. p - value is less than 0.01. Option A is correct.

C. Conclude that weight and price are related. Option A is correct.

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