Posted on 2010-11-29
Can someone show me how to set up this problem by looking at the data attached and below questions.
The statistical analysis of the data involves hypothesis testing and multiple-regression analysis.
Analyses that you'll want to do are:
1.Test the hypothesis that mean price does not depend on whether the car is a convertible. (Interpret your answer in nontechnical terms for "Tom".) Then, perform the same hypothesis for transmission type, presence or absence of air conditioning, GT model or not, and private versus dealer ownership.
2.Perform a hypothesis test that mean selling price does not vary with color.
3. Find a reasonable multiple regression model of PRICE on the other variables available in the data set. (Which variables are significant, which