Maintenance Costs
Data Was Collected to Investigate the Relationship Between

question 43

Short Answer

Maintenance Costs
Data was collected to investigate the relationship between the age and annual maintenance costs for a one particular car.The table below shows the costs over the life of a seven-year old car.
$$\begin{array} { | c | c } \hline \text { Year } & \text { Annual Maintenance Casts } \\\hline 1 & \$ 150 \\\hline 2 & \$ 210 \\\hline 3 & \$ 450 \\\hline 4 & \$ 490 \\\hline 5 & \$ 510 \\\hline 6 & \$ 1590 \\\hline 7 & \$ 160 \\\hline\end{array}$$
-In testing the hypotheses $H _ { 0 } : \beta _ { 1 } = 0$ vs. $\mathrm { H } _ { 1 } : \beta _ { 1 } \neq 0$ ,what is the value of the test statistic?

---

Definitions:

Chart of Accounts

An organized list of all the different financial accounts used by an entity to categorize transactions.

General Journal

A primary accounting record where financial transactions are entered before posting to specific accounts in the general ledger.

Sales Account

An account used to record the revenue from sales of goods or services by a company during a specific period.

Credit

A journal entry that results in an increase in a liability or equity account or a reduction in an asset or expense account.