I have this homework due at 12 today and I have posted 20 Qs today Check them ou

Question

I have this homework due at 12 today and I have posted 20 Qs today

Check them out after this Q

Is there a relationship between the weight and price of a mountain bike? The following data set gives the weights and prices for ten mountain bikes. Let the expanatory variable xbe the weight in pounds and the response variable y be the bike's price. Weight (LB) 29 27 29 33 36 30 35 32 Price ($0 620 330 120 1110 940 540 170 440 690 1010 a. Construct a scatterplot. Interpret. b. Find the regression equation. Interpret the slope in context. Does the y-intercept have contextual meaning? c. You decide to purchase a mountain bike that weighs 32 pounds. What is the predicted price for the bike? a. Which scatterplot below correctly shows the data? O A. O B. OC. O D. 200 25

Explanation / Answer

a) Scatter Plot

From The above chart we conclude that there is a negative correlation between Price and Weight

b) The Regression equation is

y=a+bx

from Excel

The fitted model is

y=1945.6 -43.6 (weight)

c)when weight=32

Then the price y=1945.6 -43.6 (weight)

y=1945.6 -43.6 *32 =550.40

SUMMARY OUTPUT Regression Statistics Multiple R 0.35006 R Square 0.122542 Adjusted R Square 0.01286 Standard Error 379.1735 Observations 10 ANOVA df SS MS F Significance F Regression 1 160629.4 160629.4 1.117246705 0.321383 Residual 8 1150181 143772.6 Total 9 1310810 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0% Intercept 1945.569 1309.729 1.485474 0.17572165 -1074.67 4965.81 -1074.67 4965.81 weight -43.6256 41.27307 -1.057 0.321382712 -138.801 51.55028 -138.801 51.55028

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---