Examlex

Solved

A Local Tire Dealer Wants to Predict the Number of Tires

question 66

Essay

A local tire dealer wants to predict the number of tires sold each month.He believes that the number of tires sold is a linear function of the amount of money invested in advertising.He 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. A local tire dealer wants to predict the number of tires sold each month.He believes that the number of tires sold is a linear function of the amount of money invested in advertising.He 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.   Find the rejection point for the t statistic at α = .05 and test H<sub>0</sub>: β<sub>1</sub> = 0 vs.H<sub>a</sub>: β<sub>1</sub> ≠ 0. Find the rejection point for the t statistic at α = .05 and test H0: β1 = 0 vs.Ha: β1 ≠ 0.


Definitions:

Employee Thefts

Employee thefts refer to acts of stealing or misappropriation of resources, products, or money by individuals from their place of employment.

Life Satisfaction

A measure of well-being and contentment with one's life, reflecting an individual's perception of their position in life in the context of their goals and expectations.

Period of Unemployment

The duration during which an individual is without a job and actively seeking work.

Dominance

A social or biological concept referring to the power or influence of one individual over others within a group or situation.

Related Questions