A consumer analyst collected the following data on the screen sizes of popular LCD televisions sold recently
Question:
a. Does there appear to be a linear relationship between the screen size and the price?
b. Which variable is the dependent variable?
c. Using statistical software, determine the regression equation. Interpret the value of the slope in the regression equation.
d. Include the manufacturer in a multiple linear regression analysis using a dummy variable. Does it appear that some manufacturers can command a premium price?
e. Test each of the individual coefficients to see if they are significant.
f. Make a plot of the residuals and comment on whether they appear to follow a normal distribution.
g. Plot the residuals versus the fitted values. Do they seem to have the same amount ofvariation?
Step by Step Answer:
Statistical Techniques In Business And Economics
ISBN: 356
16th Edition
Authors: Douglas Lind, William Marchal