A Survey Is Conducted to Determine Whether the Age of Car

question 18

Essay

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. $$\begin{array} { | c | c | } \hline \text { Age of car (months) } \boldsymbol { x } & \begin{array} { c } \text { Annual Maintenance } \\\text { Cost (\$) } \boldsymbol { y }\end{array} \\\hline 3 & 120 \\\hline 5 & 115 \\\hline 6 & 135 \\\hline 7 & 290 \\\hline 9 & 275 \\\hline 10 & 300 \\\hline 11 & 350 \\\hline 13 & 475 \\\hline 14 & 500 \\\hline 15 & 550 \\\hline\end{array}$$
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?

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Definitions:

Expressions of Hostility

Behaviors or gestures that convey anger, aggression, or opposition towards others.

Potency Bias

A cognitive bias that leads individuals to overestimate their ability, power, or the effectiveness of their actions.

Workplace Bullying

Unwanted, aggressive behavior in the workplace that involves a real or perceived power imbalance and can include actions like threats, humiliation, or sabotage.

Unreasonable Behavior

Actions or attitudes that are irrational, excessive, or not aligned with normal standards or expectations.