Consider the Following Data for Two Variables, X and Y

question 60

Essay

Consider the following data for two variables, x and y, where x is the age of a particular make of car
and y is the selling price, in thousands of dollars. $$\begin{array} { | c | c c c c c c c c c c | } \hline x & 7 & 10 & 3 & 5 & 3 & 10 & 4 & 14 & 5 & 8 \\\hline y & 35.0 & 28.5 & 45.0 & 45.0 & 55.0 & 25.0 & 37.5 & 27.5 & 30.0 & 27.5 \\\hline\end{array}$$ Use Excel to test whether the population slope is positive, at the 1% level of significance.

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Definitions:

Vroom and Yetton

A decision-making model that outlines how leaders can choose their leadership styles based on the context, particularly the importance of quality and the acceptance of the decision by others.

Autocratic Decision

A decision-making style where the leader makes decisions unilaterally without consulting others, often based on their own authority and judgment.

Immediate Crisis

A sudden and urgent situation requiring quick action to prevent or minimize major damage or disaster.

Delegate

To assign responsibility or authority to another individual, typically to lighten one's own workload or to entrust tasks to more specialized personnel.