Refer to exercise 5, where the following data were used to investigate whether higher prices are generally

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Refer to exercise 5, where the following data were used to investigate whether higher prices are generally associated with higher ratings for elliptical trainers (Consumer Reports, February 2008).

Refer to exercise 5, where the following data were used

With x = price ($) and y = rating, the estimated regression equation is
58.158 + .008449 x. For these data, SSE = 173.88.
a. Compute the coefficient of determination r2.
b. Did the estimated regression equation provide a good fit? Explain.
c. What is the value of the sample correlation coefficient? Does it reflect a strong or weak relationship between price and rating?

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Essentials Of Modern Business Statistics With Microsoft Excel

ISBN: 9780840062383

5th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

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