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Suppose a certain retailer sells several models of refrigerators. A random sample of the models sold by this retailer that includes whether the refrigerator has
Suppose a certain retailer sells several models of refrigerators. A random sample of the models sold by this retailer that includes whether the refrigerator has the thru-the-door ice and water feature, the corresponding cubic feet (cu. ft.), and list price can be found below. Model Ice-and-Water Cu. Ft. List Price Model 1 Without 18.3 $899.99 Model 2 Without 24.8 $1,799.99 Model 3 With 25.4 $1,799.99 Model 4 Without 19.3 $749.99 Model 5 Without 17.7 $599.99 Model 6 With 19.6 $1,619.99 Model 7 Without 25.0 $999.99 Model 8 Without 24.5 $1,299.99 Model 9 With 25.4 $1,299.99 Model 10 With 26.0 $1,299.99 Model 11 With 25.6 $1,099.99 Model 12 Without 18.0 $479.99 Model 13 With 25.0 $2,199.99 Model 14 Without 20.2 $849.99 Model 15 Without 15.5 $549.99 Model 16 With 28.2 $2,599.99 Model 17 Without 27.8 $2,999.99 Model 18 With 26.6 $2,399.99 Model 19 With 22.6 $1,099.99 Model 20 With 21.8 $1,499.99 Model 21 Without 20.9 $1,679.99 (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 x, 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. Ho: Find the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to four decimal places.) State your conclusion. --Select-- |H. There is ---Select--- |evidence to conclude there ---Select--- | 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 x, represent the cubic feet, x, represent whether the refrigerator has the thru-the-door ice and water feature, and y represent the list price.) y = (d) At a = 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. Find the test statistic. (Round your answer to two decimal places.) Find the p-value. (Round your answer to four decimal places.) State your conclusion. --Select- |Ho. There is ---Select--- | evidence to conclude there ---Select--- |a significant relationship between ---Select--- | and whether the refrigerator has the thru-the-door ice and water feature, after accounting for the ---Select--- v
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