Is there a relationship between buying an expensive car and the level of satisfaction with the car?

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Is there a relationship between buying an expensive car and the level of satisfaction with the car? To answer this question, a consumer researcher randomly sampled 15 individuals, asked them about the price of their car, and had them fill out a satisfaction survey. The survey was scored on a scale from 0 to 100 , where higher scores indicated a higher degree of satisfaction with the vehicle. This data is provided in Table 7.10.

a. Which variable is the response variable and which is the predictor variable?

b. Draw a scatterplot and find the equation of the line of best fit that models the relationship between the price paid for a vehicle and the level of satisfaction.

c. Interpret whether or not you believe there is a significant relationship between the price paid for a vehicle and the level of satisfaction.

d. Find and interpret the coefficient of determination.

e. Check any relevant model assumptions and identify any outliers.

Table 7.10.

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