Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

To help consumers in purchasing a laptop computer, a Consumer Reports researcher calculates an overall test score for each computer tested, based upon rating factors

image text in transcribedimage text in transcribed
To help consumers in purchasing a laptop computer, a Consumer Reports researcher calculates an overall test score for each computer tested, based upon rating factors such as ergonomics, portability, performance, display, and battery life. The following Microsoft Excel output analysis of the data shows the retail price and the overall score for 23 14-inch models (Consumer Reports website). Use these results to answer the questions on the next page. Cost Versus Overall Test Scores of Laptop Computers Overall Test Score 450 550 650 750 850 950 1050 1150 1250 1350 Price in $ SUMMARY OUTPUT Multiple R 0.831229 R Square 0.690942 Adjusted R Square 0.676225 Standard Error 4.298479 Observations 23 Coefficients Standard Error t Stat P-value Intercept 48.77054 3.987214 12.23173 5.11E-11 Price ($) 0.02741 0.004 6.851895 8.98E-07Question 7 (continued) a. Write down the least-squares regression equation and interpret its slope in the context of the data. b. Using the regression model equation obtained in part (a), predict the overall test score for a 14-inch laptop computer model that retails at a price of $1150. C. Use the information from the Excel output to test (at a 5% level of significance) whether the slope of the linear regression model is different from 0. Include the Hypothesis, Test Statistic, Decision, and Conclusion

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mathematical Excursions

Authors: Richard N Aufmann, , Joanne Lockwood, Richard D Nation, Daniel K Clegg

3rd Edition

1305161793, 9781305161795

More Books

Students also viewed these Mathematics questions

Question

Experimental mortality: Did participants drop out during the study?

Answered: 1 week ago

Question

2. Ask questions, listen rather than attempt to persuade.

Answered: 1 week ago

Question

1. Background knowledge of the subject and

Answered: 1 week ago