The Skelton Manufacturing Company recently did a study of its customers. A random sample of 25 custo

The Skelton Manufacturing Company recently did a study of its customers. A random sample of 25 customer accounts was pulled from the computer records. Two variables were observed: y-Total dollar value of business this year x- Miles customer is from corporate headquarters The following statistics were computed: y = 2.14023 – 10.12x s_b = 3.12 a. Interpret the regression slope coefficient. b. Using a significance level of 0.01, test to determine whether it is true that the farther away a customer is from the corporate headquarters, the smaller the total dollar volume of business. Make sure to state the null and the alternate hypothesis and the decision rule.

 

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