In what follows use any of the following tests/procedures:Regression, multiple regressions, confidence intervals, one-sidedt-test or two-sided t-test. All the procedures should be done with5% P-value or 95% confidence interval Upload CARS data. SETUP: Itis believed that Mercedes’ prices (Suggested price) are differentthan BMW’s. Given the data your job is to confirm or disprove thisbelief. (CAREFULL: sort the data in order to extract the neededinformation). 1. What test/procedure did you perform? a. One-sidedt-test b. Two-sided t-test c. Regression d. ??Confidence interval2. What is the P-value/margin of error? a. 0.161902527 b.0.080951264 c. 6.149555 d. 8.065421 e. ??None of these 3.Statistical interpretation a. Since P-value is very small we areconfident that the average Price is above 40000. b. Since P-valueis large we cannot claim that the averages are different. c. SinceP-value is very small we are confident that the slope of regressionline is not zero. d. ??None of these. 4. Conclusion a. Yes, I amconfident that the above assertion is correct. b. No, we cannotclaim that the above assertion is correct. DATA: MERCEDES BMW 2606030795 28370 37995 32280 30245 33480 35495 35920 36995 37630 3724552120 39995 94820 44295 128420 44995 45707 54995 52800 69195 4817073195 57270 74320 86970
