A researcher believed that the number of rental cars in service by a car rental company would have an impact on the total annual revenue for that car rental company. Five small car rental companies were surveyed, with the number of Cars in service recorded in units of 1000 (so if a car rental company had 54000 cars in service, a 54 would be recorded) and Annual Revenue measured in millions of dollars (so an Annual Revenue of $10,000,000 would be recorded as 10). The data follows: Cars (1,000s) Annual Revenue ($ millions) 11.5 118 10.0 135 9.0 100 5.5 37 3.3 32 Part of the Excel-generated Simple Linear Regression output is provided below: ANOVA df SS MS F Significance F Regression 1 7891.863897 7891.863897 22.91180151 0.017339231 Residual 3 1033.336103 344.4453677 Total 4 8925.2 Coefficients Standard Error t Stat P-value Intercept -19.12490108 23.1658578 -0.825564123 0.469577307 Cars 13.17110701 2.751646621 4.786627363 0.017339231 a. State the value of F subscript o, the Test Statistic that you would use to perform the F-Test on H subscript o colon space beta subscript 1 equals 0. Round off your answer to the fourth decimal place. F subscript o equals Blank 1. Fill in the blank, read surrounding text. b. State the value of the PValue (PV) for the Test Statistic in part (a). Round off your answer to the fourth decimal place.
A researcher believed that the number of rental cars in service by a car rental company would have an impact on the total annual revenue for that car rental company. Five small car rental companies were surveyed, with the number of Cars in service recorded in units of 1000 (so if a car rental company had 54000 cars in service, a 54 would be recorded) and Annual Revenue measured in millions of dollars (so an Annual Revenue of $10,000,000 would be recorded as 10). The data follows:
Cars (1,000s) Annual Revenue ($ millions)
11.5 118
10.0 135
9.0 100
5.5 37
3.3 32
Part of the Excel-generated Simple Linear Regression output is provided below:
ANOVA
| df | SS | MS | F | Significance F | |
| Regression | 1 | 7891.863897 | 7891.863897 | 22.91180151 | 0.017339231 |
| Residual | 3 | 1033.336103 | 344.4453677 | ||
| Total | 4 | 8925.2 |
| Coefficients | Standard Error | t Stat | P-value | |
| Intercept | -19.12490108 | 23.1658578 | -0.825564123 | 0.469577307 |
| Cars | 13.17110701 | 2.751646621 | 4.786627363 | 0.017339231 |
a. State the value of F subscript o, the Test Statistic that you would use to perform the F-Test on H subscript o colon space beta subscript 1 equals 0. Round off your answer to the fourth decimal place.
F subscript o equals Blank 1. Fill in the blank, read surrounding text.
b. State the value of the PValue (PV) for the Test Statistic in part (a). Round off your answer to the fourth decimal place.
PV = Blank 2. Fill in the blank, read surrounding text.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
