Formulate both a numerical and verbal hypothesis statement regarding the attached data set.
Perform the five-step hypothesis test on data.
Data Set Legend:
X1: Selling price in dollars
X2: Selling price in thousands of dollars
X3: Age of buyer
X4: 0=Domestic, 1=Imported
80 Autos Sold
Step by step method for testing the hypothesis under 5 step approach is discussed here. Excel template for each problem is also included. This template can be used to obtain the answers of similar problems.