"Complete the following case problem, "Rating Wines from the Piedmont Region of Italy" . Upload your original Excel worksheet with a separate tab for each question. In the discussion forum, discuss your findings, forecasts, and recommendations.To do this, click reply, then click on advanced at the bottom right. You can drag/drop your spreadsheet at the bottom of the discussion in the box.Upload your report and discuss in 250 words (minimum; does not include questions, content within Excel, or references section) your findings and recommendationswithin the discussion area.

Case Problem 2-RatingWinesfromthePiedmontRegion of Italy

Wine Spectatormagazine contains articles and reviews on every aspect ofthewine industry, includingratings of winefromaroundtheworld. In a recent issuethey reviewed and scored 475winesfromthePiedmontregion of Italy using a 100-point scale.Thefollowing table shows howtheWine Spectatorscore each wine received is used to rate each wine as being classic, outstanding, very good, good, mediocre, or not recommended.

Score	Rating
95-100	Classic: a great wine
90-94	Outstanding: a wine of superior character and style
85-89	Very good: a wine with special qualities
80-84	Good: a solid, well-made wine
75-79	Mediocre: a drinkable wine that may have minor flaws
below 75	Not recommended

A key question for most consumers is whether paying more for a bottle of wine will result in a better wine. To investigate this question forwinesfromthePiedmontregion we selected a random sample of 100winesfromthe475winesthatWine Spectatorreviewed.Thedata, contained inthefileWineRatings, showstheprice ($),theWine Spectatorscore, andtheratingfor each wine.

Managerial Report

Develop a table that showsthenumber ofwinesthat were classified as classic, outstanding, very good, good, mediocre, and not recommended andtheaverage price. Doesthere appear to be any relationship betweentheprice ofthewine andtheWine Spectatorrating? Arethere any other aspects of your initial summary ofthedata that stand out?

Develop a scatter diagram with a price onthehorizontal axis andtheWine Spectatorscore onthevertical axis. Doestherelationship between price and score appear to be linear?

Using linear regression, develop an estimated regression equation that can be used to predictthescore giventheprice ofthewine.

Using a second-order model, develop an estimated regression equation that can be used to predictthescore giventheprice ofthewine.

Comparetheresultsfromfitting a linear model and fitting a second-order model.

As an alternative to fitting a second-order model, fit a model usingthenatural logarithm of price astheindependent variable. Comparetheresults withthesecond-order model.

Based on your analysis, would you say that spending more for a bottle of wine will provide a better wine?

Suppose that you want to spend a maximum of $30 for a bottle of wine. In this case, will spending closer to your upper limit for price result in a better wine than a much lower price?