An Online Camera Store Wanted To Predict The Price Of Cameras Based On Effective Pixels, Max Resolution Or Low Resolution. Below Is An Excerpt Of JMP Output. The Sample Size Was 1038. Term Estimate Std Err T Ratio Intercept 183.15 140.7375 1.30 Effective Pixels 43.06 27.35 1.57 Max Resolution 0.035 0.109 0.32 Low Resolution -0.006 0.052 -0.12 Interpret The

 

An online camera store wanted to predict the price of cameras based on effective pixels, max resolution or low resolution. Below is an excerpt of JMP output. The sample size was 1038. Term Estimate Std Err T Ratio 183.15 140.7375 1.30 Intercept effective pixels 43.06 27.35 1.57 max resolution 0.035 0.109 0.32 low resolution -0.006 0.052 -0.12 Interpret the slope for effective pixels. 43.06 is the average increase in effective pixels when the price increases by 1 dollar 43.06 is the average increase in price of cameras when the effective pixels increases by 1 43.06 is the average increase in price of cameras when the effective pixels increases by 1 (holding the other variables constant)