Bicycling World, a magazine devoted to cycling, reviews hundreds of bicycles throughout the year. Its "Road-Race" category contains reviews of bicycles used by riders primarily interested in racing. One of the most important factors in selecting a bicycle for racing is the weight of the bicycle. The following data show the weight (pounds) and price ($) for ten racing bicycles reviewed by the magazine. Click on the datafile logo to reference the data. DATA file Model Weight (Ib) Price ($) Fierro 7B 17.9 2,200 HX 5000 16.2 6,350 Durbin Ultralight 15.0 8,470 Schmidt 16.0 5,300 WSilton Advanced 17.3 4,100 Bicyclette velo 13.2 8,700 Supremo Team 16.3 6,100 XTC Racer 17.2 2,680 D'Onofrio Pro 17.7 3,500 Americana #6 14.2 8,100 (a) Choose a scatter chart below with weight as the independent variable. (i) 10000 9000 8000 7000 6000 5000 4000 3000 2000- 1000 of 10 20 -2000 Weight 14000 12000 10000 8000 6000- 4000 2000 of 5 10 15 20 Weigh (iii) 20 Weight 10+ 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 Price (iv) 20 15+Weight 104 1000 2000 3000 4000 5000 6000 7000 8000 9000 10000 Price (iv) 20 15+ Weight 10+ 0+ + 000 4000 6000 8000 10000 12000 14000 Price Chart (i) V O What does the scatter chart indicate about the relationship between the weight and price of these bicycles? The scatter chart indicates there may be a negative linear relationship between weight and price. (b) Use the data to develop an estimated regression equation that could be used to estimate the price for a bicycle given its weight. What is the estimated regression model? Let x represent the bicycle weight. If required, round your answers to two decimal places. For subtractive or negative numbers use a minus sign even if there is a + sign before the blank. (Example: -300) 28818+ -1439.01 x (c) Test whether each of the regression parameters Bo and By is equal to zero at a 0.05 level of significance. What are the correct interpretations of the estimated regression parameters? Are these interpretations reasonable? The input in the box below will not be graded, but may be reviewed and considered by your instructor. Interpretation for intercept is not reasonabl (d) How much of the variation in the prices of the bicycles in the sample does the regression model you estimated in part (b) explain? If required, round your answer to two decimal places. 86.37 / (e) The manufacturers of the D'Onofrio Pro plan to introduce the 16.1 lb D'Onofrio Elite bicycle later this year. Use the regression model you estimated in part (b) to predict the price of the D'Onofrio Elite. If required, round your answer to the nearest whole number. Do not round intermediate calculations. 7232.85x