People have been using Cameras for private daily use since the 1880s and the fir

Question

People have been using Cameras for private daily use since the 1880s and the first Kodak camera cost a lot of money in those days. Today we wish to see if the size of the camera can be used to predict the cost. The data is given below: Y cost in dollars x -weight in ounces y (300, 250, 350,400, 150, 180, 140, 300, 300, 200) X (6, 5,7, 5,6, 6, 4,6,6, 5) The following information is available for you to use in the analysis of this topic. n=10 5.6 -257 SSxy-248 SSxx-6.4 SSyy-6901 0 What is the test statistic value? T 34.06 1.14 0.21 none of these

Explanation / Answer

Perform regresssion in excel

t=slope/std error=0.003159/0.0003594

=1.137663

t=1.14

ANSWER 1.14

SUMMARY OUTPUT Regression Statistics Multiple R 0.373169 R Square 0.139255 Adjusted R Square 0.031662 Standard Error 0.829817 Observations 10 ANOVA df SS MS F Significance F Regression 1 0.891233 0.891233 1.294276 0.288185 Residual 8 5.508767 0.688596 Total 9 6.4 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 4.676424 0.853176 5.481192 0.000587 2.708995 6.643852 x 0.003594 0.003159 1.137663 0.288185 -0.00369 0.010878

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