Question

Test whether $\beta_0$ is significant at $\alpha = 0.05$. $H_0$: $\beta_0$ $H_1$: $\beta_0$ The p-value $\le$ 0.05. Reject $H_0$. We can conclude that the intercept of the regression does significantly contribute to the annual maintenance cost. What is the interpretation of $\beta_0$? The annual maintenance cost is expected to be equal to dollar(s) when the age of bus is equal to year(s). Is the interpretation of $\beta_0$ reasonable? The interpretation is meaningless because $\beta_0$ has been estimated through extrapolation. Test whether $\beta_1$ is significant at $\alpha = 0.05$. $H_0$: $\beta_1$ $H_1$: $\beta_1$ The p-value $\le$ 0.05. Reject $H_0$. We can conclude that there is a significant linear relationship between the age of the bus and annual maintenance cost. What is the interpretation of $\beta_1$? The annual maintenance cost is expected to increase by dollar(s) when the age of bus increases by year(s).

          Test whether $\beta_0$ is significant at $\alpha = 0.05$.
$H_0$: $\beta_0$
$H_1$: $\beta_0$
The p-value $\le$ 0.05. Reject $H_0$. We can conclude that the intercept of the regression does significantly contribute to the annual maintenance cost.
What is the interpretation of $\beta_0$?
The annual maintenance cost is expected to be equal to dollar(s) when the age of bus is equal to year(s).
Is the interpretation of $\beta_0$ reasonable?
The interpretation is meaningless because $\beta_0$ has been estimated through extrapolation.
Test whether $\beta_1$ is significant at $\alpha = 0.05$.
$H_0$: $\beta_1$
$H_1$: $\beta_1$
The p-value $\le$ 0.05. Reject $H_0$. We can conclude that there is a significant linear relationship between the age of the bus and annual maintenance cost.
What is the interpretation of $\beta_1$?
The annual maintenance cost is expected to increase by dollar(s) when the age of bus increases by year(s).

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Test whether β0 is significant at α = 0.05.
H0: β0
H1: β0
The p-value ≤ 0.05. Reject H0. We can conclude that the intercept of the regression does significantly contribute to the annual maintenance cost.
What is the interpretation of β0?
The annual maintenance cost is expected to be equal to dollar(s) when the age of bus is equal to year(s).
Is the interpretation of β0 reasonable?
The interpretation is meaningless because β0 has been estimated through extrapolation.
Test whether β1 is significant at α = 0.05.
H0: β1
H1: β1
The p-value ≤ 0.05. Reject H0. We can conclude that there is a significant linear relationship between the age of the bus and annual maintenance cost.
What is the interpretation of β1?
The annual maintenance cost is expected to increase by dollar(s) when the age of bus increases by year(s).

Added by Ashley B.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

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Solved by Expert Supreeta N

05/17/2023

Step 1

In this case, the interpretation of β(0) would be the annual maintenance cost when the age of the bus is zero. Show more…

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Test whether β(0) is significant at α = 0.05. The p-value is 0.05. H0: We conclude that the intercept of the regression significantly contributes to the annual maintenance cost. What is the interpretation of β(0)? Is the interpretation of β(0) reasonable? The interpretation is because β(0) has been estimated through. Test whether β(1) is significant at α = 0.05. We conclude that there is a significant linear relationship between the age of the bus and annual maintenance cost. What is the interpretation of β(1)? Test whether σ is significant at α = 0.05. H0: The p-value is 0.05. Reject H0. We can significantly contribute to the annual maintenance cost. We conclude that the intercept of the regression does. What is the interpretation of σ? X dollar(s) A when the age of the bus is equal to X year(s). Is the interpretation of σ reasonable? The interpretation is meaningless because σ has been estimated through extrapolation. Test whether is significant at α = 0.05. H0: The p-value is 0.05. Reject H0. We can. H: The p-value is 0.05. Reject. We conclude that there is a. What is the interpretation of ? The annual maintenance cost is expected to increase by age of bus increases by ? dollars. When the year(s) is equal to X.

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Transcript

00:01 Hello students, in this question, on the sub -party, we need to frame the hypothesis.

00:07 The null hypothesis h0 is beta0 is equal to 0.

00:13 This is the intercept is equal to 0.

00:17 And the alternative hypothesis h alpha is beta0 not equal to 0.

00:23 Here, the intercept is different from 0.

00:33 Therefore, from the given options, the correct answer is h0 is equal to beta0 is equal to 0 under h alpha, beta0 not equal to 0.

00:45 Then, from the given information, the p -value is equal to 0 .000.

00:53 By the decision rule, if p -value less than or equal to alpha, we reject our h0.

01:03 Then, if the p -value greater than alpha means, we fail to reject our null hypothesis h0.

01:15 Therefore, in this case, the p -value 0 .000 which is less than the level of significance 0 .05.

01:25 So, here we reject our null hypothesis h0 and the correct answer is reject h0.

01:36 The intercept differs from 0.

01:45 Then, for the sub -part b, we need to find the confidence interval for 95%.

01:56 The formula for calculating the confidence interval which is lope coefficient plus or minus p into n minus 2.

02:10 Then, the standard error of lope.

02:15 Now, here the value of n, that is the number of observation is 20...

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