Question:
Home Depot, a home-improvement retailer, sells several brands of washing machines. The following table contains a sample of 24 models of full-size washing machines sold by Home Depot in 2016, with each observation recording the washing machine capacity (in cubic feet) and the list price (in $) (Home Depot website).
a. Develop a scatter diagram for these data, treating cubic feet as the independent variable. Does a simple linear regression model appear to be appropriate?
b. Use a simple linear regression model to develop an estimated regression equation to predict the list price given the cubic feet. Construct a standardized residual plot. Based upon the standardized residual plot, does a simple linear regression model appear to be appropriate?
c. Using a second-order model, develop an estimated regression equation to predict the list price given the cubic feet.
Transcribed Image Text:
Model Сарacity List Price 4.8 $749 Maytag High-Efficiency Top Loading Washer with Steam Samsung High-Efficiency Top Loading Washer with Active Wash and Integrated Touch Controls Whirlpool High-Efficiency Front Loading Washer with Steam Maytag High-Efficiency Top Loading Washer Whirlpool High-Efficiency Top Loading Washer Samsung High-Efficiency Front Loading Washer Samsung High-Efficiency Front Loading Washer with 5.0 $999 4.2 $1,299 4.3 $649 4.3 $599 4.2 $799 AddWash Door 4.5 $999 $799 Whirlpool High-Efficiency Front Loading Washer Whirlpool High-Efficiency Top Loading Washer with Steam Samsung High-Efficiency Top Loading Washer with 4.5 4.8 $799 ActiveWash 4.8 $899 $699 Whirlpool High-Efficiency Top Loading Washer Maytag High-Efficiency Front Loading Washer with Steam Whirlpool High-Efficiency Front Loading Washer with Steam Maytag High-Efficiency Top Loading Washer Samsung High-Efficiency Top Loading Washer Maytag High-Efficiency Front Loading Washer with Steam Samsung High-Efficiency Top Loading Washer with ActiveWash and Integrated Touch Controls Samsung High-Efficiency Top Loading Washer Samsung High-Efficiency Front Loading Washer with Steam Whirlpool High-Efficiency Front Loading Washer with Steam Whirlpool High-Efficiency Front Loading Washer Samsung High-Efficiency Top Loading Washer with 4.8 4.3 $799 4.5 $1,099 5.3 $899 4.8 $799 4.5 $999 4.5 $849 4.5 $699 $1,599 $1,099 5.6 4.5 4.2 $799 Activewash 5.2 $1,199 Maytag High-Efficiency Top Loading Washer with Steam Whirlpool High-Efficiency Top Loading Washer with Steam 5.3 S1,099 5.3 S1,199 n 55.