## [answered] A large national bank charges local companies for using the

A large national bank charges local companies for using their services. A bank official reported the results of a regression analysis designed to predict the bank's charges (y), measured in dollars per month, for services rendered to local companies. One independent variable used to predict service charge to a company is the company's sales revenue (x), measured in \$ million. Data for 21 companies who use the bank's services were used to fit the model

E(y) =??0?+??1x.

The results of the simple linear regression are provided below.

??= 2,700 + 20x,?s?= 65, 2-tailed?p-value = .064 (for testing??1)

Interpret the?p-value for testing whether??1?exceeds 0.
 There is sufficient evidence (at???= .05) to conclude that service charge (y) is positively linearly related to sales revenue (x) . Sales revenue (x) is a poor predictor of service charge (y). For every \$1 million increase in sales revenue (x), we expect a service charge (y) to increase \$.064. There is insufficient evidence (at???= .05) to conclude that service charge (y) is positively linearly related to sales revenue (x).

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This question was answered on: Sep 18, 2020

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