A major car magazine has recently collected data on 30 leading cars in the U.S.market.It is interested in building a multiple regression model to explain the variation in highway miles.The following correlation matrix has been computed from the data collected: Based on this information,if we test using a 0.05 level of significance,the critical value for testing whether any of the independent variables are significantly correlated with the dependent variable is t = 2.0484.

Question

A major car magazine has recently collected data on 30 leading cars in the U.S.market.It is interested in building a multiple regression model to explain the variation in highway miles.The following correlation matrix has been computed from the data collected:  Based on this information,if we test using a 0.05 level of significance,the critical value for testing whether any of the independent variables are significantly correlated with the dependent variable is t = 2.0484.

Quizplus · Accepted Answer

The correlation matrix provided in the problem is not visible, but based on the given information, the critical value for testing whether any of the independent variables are significantly correlated with the dependent variable is said to be t = 2.0484 at a significance level of 0.05. This suggests that the null hypothesis of no significant correlation between the independent variables and the dependent variable can be rejected if the calculated t-value exceeds 2.0484. Therefore, the statement is true.

A Major Car Magazine Has Recently Collected Data on 30