An antiques dealer is interested in factors that might influ

An antiques dealer is interested in factors that might influence the final selling price of grandfather clocks at auction. Her data (from 32 previously auctioned clocks) includes the age of the clock (Age), the number of bidders (Bidders) at the auction, and the final selling price (Y) of the clocks.

What is the conclusion of the model F test (and only the model F test) at the 0.01 level of significance?

Do not reject the null hypothesis. Conclude that the mean selling price is $1337.

Reject the null hypothesis. Conclude that both beta terms are not equal to 0, implying that both Age and Bidders are potentially useful for predicting price.

Reject the null hypothesis. Conclude that at least one of the beta terms is not 0, implying that either Age, Bidders, or both are potentially useful for predicting price.

Reject the null hypothesis. Conclude that the mean selling price of clocks is not equal to 0.

Do not reject the null hypothesis. Conclude that at least one of the beta terms is not 0, implying that either Age, Bidders, or both are potentially useful for predicting price.

		Do not reject the null hypothesis. Conclude that the mean selling price is $1337.
		Reject the null hypothesis. Conclude that both beta terms are not equal to 0, implying that both Age and Bidders are potentially useful for predicting price.
		Reject the null hypothesis. Conclude that at least one of the beta terms is not 0, implying that either Age, Bidders, or both are potentially useful for predicting price.
		Reject the null hypothesis. Conclude that the mean selling price of clocks is not equal to 0.
		Do not reject the null hypothesis. Conclude that at least one of the beta terms is not 0, implying that either Age, Bidders, or both are potentially useful for predicting price.

SUMMARY OUTPUT Rearession Statistics Multiple R R Square Adjusted R Square Standard Error Observations 0.944834723 0.892712653 0.885313526 133.1365018 32 ANOVA Sianificance F 24277159.703 2138580 120.6511 8.76907E-15 MS Regression Residual Total 29 514034.5153 17725.33 31 4791194.219 Intercept Age Bidders Coefficients Standard Error t Stat P-value Lower 95% Upper 95% 1336.722052173.3561261 -7,71084 1.67E-08 -1691.27514-982.1689645 12.736198840.902380487 14.114 1.6E-14 10.89062352 14.58177416 85.81513268.705756815 9.8572869.14E-11 68.00986071 103.6204045

Solution

with ANOVA analysis can estraer Fo = 120.65 and to check whether or not reject the null hypothesis should be calculated alpha F 0.01

F0.01,2,29= 5.42

Fo=120.65

and if Fo>Falpha

with ANOVA analysis can estraer F0 = XXX and to check whether or not reject the null hypothesis should be calculated alpha F 0.01

so the answer is Reject the null hypothesis. Conclude that the mean selling price of clocks is not equal to 0.