Because of economic crisis Darth Vader ordered Data Analysis

Because of economic crisis Darth Vader ordered Data Analysis department of the Empire Inc. to analyze the price factors of Star Fighters of different modifications. Data (N=74 obs) on the ion-fuel-economy (mpi). length, weight of carried laser arm (kg), Twin Ion Engine displacement (cubic cm) and Engine origin (For Empire Inc., variable Foreign =0) were used to find out whether or not the estimate of the price ($M) of Fighters is elastic with respect to the weight of carried arm- The results are following: a. Describe the hypothesis test of primary interest for this study. What is your conclusion? (5 pts) ( Hint: you may need summary statistics, the table given below) The results to use:

Solution