A survey is conducted to determine whether the age of car influences the annual maintenance cost. A sample of 10 cars is selected and the data is shown below.
a. Test whether each of the regression parameters β0 and β1 is equal to zero at a 0.05 level of significance.
b. Interpret the estimated regression parameters? Are these interpretations reasonable?

Question

A survey is conducted to determine whether the age of car influences the annual maintenance cost. A sample of 10 cars is selected and the data is shown below.
  a. Test whether each of the regression parameters β0 and β1 is equal to zero at a 0.05 level of significance. 
b. Interpret the estimated regression parameters? Are these interpretations reasonable?

Quizplus · Accepted Answer

The Answer of A survey is conducted to determine whether the age of car influences the annual maintenance cost. A sample of 10 cars is selected and the data is shown below.
  a. Test whether each of the regression parameters β0 and β1 is equal to zero at a 0.05 level of significance. 
b. Interpret the estimated regression parameters? Are these interpretations reasonable?

A Survey Is Conducted to Determine Whether the Age of Car