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One of the world's leading cycling magazine reviews hundreds of bicycles throughout the year. Their Road-Race category contains reviews of bikes used by riders primarily
One of the world's leading cycling magazine reviews hundreds of bicycles throughout the year. Their "Road-Race" category contains reviews of bikes used by riders primarily interested in racing. One of the most important factors in selecting a bike for racing is the weight of the bike. The following data show the weight (pounds) and price ($) for 10 racing bikes reviewed by the magazine. DATA file Brand Weight Price ($) FELT F5 17.8 2100 PINARELLO Paris 16.1 6250 ORBEA Orca GDR 14.9 8370 EDDY MERCKX EMX-7 15.9 6200 BH RC1 Ultegra 17.2 4000 BH Ultralight 386 13.1 8600 CERVELO S5 Team 16.2 6000 GIANT TCR Advanced 2 17.1 2580 WILIER TRIESTINA Gran Turismo 17.6 3400 SPECIALIZED S-Works Amira SL4 14.1 8000 a. Use the data to develop an estimated regression equation that could be used to estimate the price for a bike given the weight. If required, enter negative values as negative numbers. Price = + Weight (to whole number) b. Compute 72 (to 4 decimals) Did the estimated regression equation provide a good fit? The estimated regression equation provided a - Select your answer - |fit. %% of the change in - Select your answer - v| can be explained by the regression equation (to 2 decimals). c. Predict the price for a bike that weighs 14.2 pounds. (to whole number)
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