A student would like to determine whether the number of pages in a textbook can be...

A student would like to determine whether the number of pages in a textbook can be used to predict its price. She took a random sample of 30 textbooks from the campus bookstore and recorded the price (in $) and the number of pages in each book. The least squares regression line is calculated to be ŷ = 83 + 0.3x.

Question 21 (1 point)

One textbook in the sample costs $120 and has a residual value of -32. How many pages are in this textbook?

Question 21 options:

	250
	240
	230
	220
	210

Question 22 (1 point)

Saved

Refer to the previous question. We conduct a hypothesis test to determine if there exists a positive linear relationship between number of pages and price of a textbook. The P-value is calculated to be 0.18.

What is the interpretation of this P-value?

Question 22 options:

	The probability that there is a positive linear relationship between number of pages and price is 0.18.
	If there was a positive linear relationship between number of pages and price, the probability of observing a value of b₁ at least as high as 0.3 would be 0.18.
	If there was a positive linear relationship between number of pages and price, the probability of observing a value of β₁ at least as high as 0.3 would be 0.18.
	If there was no linear relationship between number of pages and price, the probability of observing a value of b₁ at least as high as 0.3 would be 0.18.
	If there was no linear relationship between number of pages and price, the probability of observing a value of β₁ at least as high as 0.3 would be 0.18.

Solutions

Expert Solution

Since P-Value is defined as the probability of getting result at least equal to observed value under the null hypothesis

so in our case null hypothesis is there is no relationship and hence beta 1 is zero so

P value is defined as if there beta1 is zero so probability of getting result at least equal to observed value of beta 1 that is 0.3 Hence

If there was no linear relationship between number of pages and price, the probability of observing a value of β₁ at least as high as 0.3 would be 0.18.

orchestra answered 1 year ago

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