A Local Tire Dealer Wants to Predict the Number of Tires

question 138

Essay

A local tire dealer wants to predict the number of tires sold each month.The dealer believes that the number of tires sold is a linear function of the amount of money invested in advertising.The dealer randomly selects 6 months of data consisting of tire sales (in thousands of tires)and advertising expenditures (in thousands of dollars).Based on the data set with 6 observations,the simple linear regression model yielded the following results. $\sum X$ = 24 $\sum X ^ { 2 }$ = 124 $\sum Y$ = 42 $\sum Y ^ { 2 }$ = 338 $\sum X Y$ = 196
-Find the rejection point for the t statistic at a = .05 and test H₀: ?₁? 0 vs.H_a: b₁> 0.

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Definitions:

Non-Hispanic Whites

A term used in the United States Census Bureau to refer to White Americans who are not of Hispanic or Latino ancestry.

Poverty Rate

The proportion of a population living below the national poverty line, indicating the extent of poverty in a country.

Children

Young human beings below the age of puberty or below the legal age of majority.

Liberal View

An ideological perspective that emphasizes the protection of individual freedoms, equality, and the support for social welfare policies.