Question
a nationwide retailer of electronics, computers, and appliances, sells several brands of refrigerators. A random sample of models of full size refrigerators prices sold by
a nationwide retailer of electronics, computers, and appliances, sells several brands of refrigerators. A random sample of models of full size refrigerators prices sold by Best Buy and the corresponding cubic feet (cu. ft.) and list price follow.
| Model | Cu. Ft. | List Price |
|---|---|---|
| Frigidaire Gallery Custom-Flex Top-Freezer Refrigerator | 18.3 | $899.99 |
| GE French Door Refrigerator | 24.8 | $1,599.99 |
| GE Frost-Free Side-by-Side Refrigerator with Thru-the-Door Ice and Water | 25.4 | $1,599.99 |
| Whirlpool Top-Freezer Refrigerator | 19.3 | $749.99 |
| GE Frost-Free Top-Freezer Refrigerator | 17.5 | $599.99 |
| Whirlpool French Door Refrigerator with Thru-the-Ice and Door Water | 19.6 | $1,619.99 |
| Samsung French Door Refrigerator | 25.0 | $999.99 |
| Samsung Side-by-Side Refrigerator | 24.5 | $1,299.99 |
| Whirlpool Side-by-Side Refrigerator with Thru-the-Door Ice and Water | 25.4 | $1,299.99 |
| Frigidaire Gallery Frost-Free Side-by-Side Refrigerator with Thru-the-Door Ice and Water | 26.0 | $1,299.99 |
| Frigidaire Side-by-Side Refrigerator with Thru-the-Door Ice and Water | 25.6 | $1,099.99 |
| Frigidaire Top-Freezer Refrigerator | 18.0 | $579.99 |
| Whirlpool French Door Refrigerator with Thru-the-Door Ice and Water | 25.0 | $2,199.99 |
| Whirlpool Top-Freezer Refrigerator | 20.5 | $849.99 |
| GE Frost-Free Top-Freezer Refrigerator | 15.5 | $549.99 |
| Samsung 4-Door French Door Refrigerator with Thru-the-Door Ice and Water | 28.2 | $2,599.99 |
| Samsung Showcase 4-Door French Door Refrigerator | 27.8 | $2,999.99 |
| Samsung 3-Door French Door Refrigerator with Thru-the-Door Ice and Water | 24.6 | $2,399.99 |
| Frigidaire Side-by-Side Refrigerator with Thru-the-Door Ice and Water | 22.6 | $1,099.99 |
| GE Side-by-Side Refrigerator with Thru-the-Door Ice and Water | 21.8 | $1,499.99 |
| GE Bottom-Freezer Refrigerator | 20.9 | $1,649.99 |
(a)Develop the estimated simple linear regression equation to show how list price is related to the independent variable cubic feet. (Round your numerical values to four decimal places. Let
x1
represent the cubic feet and y represent the list price.) =
(b)At the 0.05 level of significance, test whether the estimated regression equation developed in part (a) indicates a significant relationship between list price and cubic feet.State the null and alternative hypotheses.H0: 1 0 Ha: 1 < 0H0: 1 0 Ha: 1 > 0 H0: 1 = 0 Ha: 1 0H0: 1 = 0 Ha: 1 > 0Find the test statistic. (Round your answer to two decimal places.)Find the p-value. (Round your answer to four decimal places.)State your conclusion.Reject H0. There is sufficient evidence to conclude there is a significant relationship between list price and cubic feet.Reject H0. There is insufficient evidence to conclude there is a significant relationship between list price and cubic feet. Do not reject H0. There is sufficient evidence to conclude there is a significant relationship between list price and cubic feet.Do not reject H0. There is insufficient evidence to conclude there is a significant relationship between list price and cubic feet.(c)Develop a dummy variable that will account for whether the refrigerator has the thru-the-door ice and water feature. Code the dummy variable with a value of 1 if the refrigerator has the thru-the-door ice and water feature and with 0 otherwise. Use this dummy variable to develop the estimated multiple regression equation to show how list price is related to cubic feet and the thru-the-door ice and water feature. (Round your numerical values to four decimal places. Let
x1
represent the cubic feet,
x2
represent whether the refrigerator has the thru-the-door ice and water feature, and y represent the list price.) =
(d)At = 0.05, is the thru-the-door ice and water feature a significant factor in the list price of a refrigerator?State the null and alternative hypotheses.H0: 2 0 Ha: 2 < 0H0: 2 0 Ha: 2 > 0 H0: 2 = 0 Ha: 2 0H0: 2 = 0 Ha: 2 > 0Find the test statistic. (Round your answer to two decimal places.)Find the p-value. (Round your answer to four decimal places.)State your conclusion.Reject H0. There is sufficient evidence to conclude there is a significant relationship between list price and whether the refrigerator has the thru-the-door ice and water feature.Reject H0. There is insufficient evidence to conclude there is a significant relationship between list price and whether the refrigerator has the thru-the-door ice and water feature. Do not reject H0. There is sufficient evidence to conclude there is a significant relationship between list price and whether the refrigerator has the thru-the-door ice and water feature.Do not reject H0. There is insufficient evidence to conclude there is a significant relationship between list price and whether the refrigerator has the thru-the-door ice and water feature.
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Algebra And Trigonometry Enhanced With Graphing Utilities
Authors: Michael Sullivan, Michael Sullivan III
7th Edition
0134269039, 9780134269030
