The sales manager at City Real Estate Company is interested in describing the relationship between condo sales prices and the number of weeks the condo is on the market before it sells. He has collected a random sample of 17 low-end condos that have sold within the past three months. Complete parts a through b below. Click the icon to view the data table. a. Develop a simple linear regression model to explain the variation in selling price based on the number of weeks the condo is on the market. The regression equation is ŷ = 58423.95 + (956.37) x. (Round to two decimal places as needed.) b. Test to determine whether the regression slope coefficient is significantly different from 0 using a significance level equal to 0.01. What are the correct hypotheses to test? A. Ho: ẞ₁ =0 HAB₁ #0 ○ C. Ho: B₁ #0 HAB₁ =0 OB. Ho: B₁<0 HA: B₁20 OD. Ho: B₁ 20 HA: B₁<0 What is the test statistic for this test? t=3.80 (Round to two decimal places as needed.) What is the p-value for the test statistic? p-value = 0.003 (Round to three decimal places as needed.) State the conclusion. Do not reject the null hypothesis. There is sufficient evidence to conclude the slope is positive. sales ple of i Selling Price Data Click Market evelo 22 Weeks on the Selling Price $75,000 50 $104,000 regre 9 $52,300 nd to 26 $82,700 20 $71,000 st to 40 $124,600 51 $109,400 tare 17 $58,800 25 $88,100 H 60 $92,800 33 НА $75,500 10 $89,100 E. H 15 $60,300 На 25 $86,700 26 $69,600 53 $131,800 t is th 11 $93,000 to se Print Done - × ween condo sales prices and the number of weeks the condo is on the market befo ough b below. number of weeks the condo is on the market. g a significance level equal to 0.01. OB. Ho: B₁ <0 HA: B₁ 20 OD. Ho: B₁ ≥0 HA: P₁<0