# (Solved): II. What Is The Estimated Value Of The Resale Price In Dollars When The Kilometres Travelled Is 8 (â...

II. What is the estimated value of the resale price in dollars
when the kilometres travelled is 8 (â€˜000) Kilometres?

III. Determine the error in the estimate of Y when X = 8 and
Y=4?

b. I. What is the value of SSE?

II. What is the value of the standard error of the estimate
(Se)?

III. What is the value of the coefficient of determination (R2 )?
Interpret it.

c. I. Write down the estimated value of the standard error of the
slope coefficient (SÎ²1).

II. Test whether a negative linear relationship exists between the
two variables at the 5% level of significance.

Step 1. Statement of the hypotheses

Step 2. Test statistic and standardised test statistic

Step 3. Level of significance

Step 4. Decision rule

Step 5. Computation

Step 6. Conclusion