Carscom would like to use simple regression to predict the s

Cars.com would like to use simple regression to predict the selling price of a used car, in thousands of dollars, based on the age of the car in years. A random sample of used cars was selected and the result of the regression analysis is shown below

Which one of the following statements is true using = 0.05?

Because the p-value for the slope is 0.0002, we fail to reject the null hypothesis and conclude that there is a relationship between the age and selling price of a used car.

Because the p-value for the slope is 0.0351, we can reject the null hypothesis and conclude that there is no relationship between the age and selling price of a used car.   

Because the p-value for the slope is 0.0002, we can reject the null hypothesis and conclude that there is a relationship between the age and selling price of a used car.

Because the p-value for the slope is 0.0351, we can reject the null hypothesis and conclude that there is a relationship between the age and selling price of a used car.

Solution

here signifiance level is 0.05 and p-value of slope is 0.0351 which is less than level of significance so we fail accept the null hypothesis. That is there is a correlation between selling price and age of the car. That is result is significant.

So follwoing option is correct:

Because the p-value for the slope is 0.0351, we can reject the null hypothesis and conclude that there is a relationship between the age and selling price of a used car.