Enter negative values as negative numbers.a. Develop the estimated regression equation that can be used to predict the monthly mortgage giventhe average asking rent (to 2 decimals).The regression equation is: Mortgage ($) = + Rent ($)50.7less than .01Conclude that weight and price are related.-197.961.07
b. Choose a residual plot against the independent variable.
c. Do the assumptions about the error term and model form seem reasonable in light of the residual plot?SolutionScatter diagram2Relationship is significant but shouldn't assume a linear relationship, due to residual plot.
To help consumers in purchasing a laptop computer, Consumer Reportscalculates an overall test scorefor each computer tested based upon rating factors such as ergonomics, portability, performance, display, and battery life. Higher overall scores indicate better test results. The following data show the average retail price and the overall score for ten 13-inch models (Consumer Reportswebsite, October 25, 2012). Click on the webfile logo to reference the data.
a. Select a scatter diagram with price as the independent variable.
b. What does the scatter diagram developed in part (a) indicate about the relationship between the two variables?c. Use the least squares method to develop the estimated regression equation.ŷ= (to 3 decimals) + (to 4 decimals) xd. Provide an interpretation of the slope of the estimated regression equation.e. Another laptop that Consumer Reportstested is the Acer Aspire S3-951-6646 Ultrabook; the price for this laptop was $700. Predict the overall score for this laptop using the estimated regression equation developed in part (c) (to 1 decimal).millionConsider the following data for two variables, xand y.Excel File:data12-51.xlsScatter diagram3Positive linear relationship53.864.0212The slope means a $1 increase in price will result in an increase in score of .0212.68.7
a. Consider the three scatter diagrams below.
Which scatter diagram accurately represents the data?Does the scatter diagram indicate any influential observations?b. Compute the standardized residuals for these data (to 2 decimals, if necessary). Enter negative values as negative numbers.Observation 1Observation 2Observation 3Observation 4Observation 5Observation 6Observation 7Observation 8Do the data include any outliers?c. Does there appear to be any influential observations in these data?SolutionScatter diagram#1Yes-0.92-.38.01-.48.25.652.00-1.14Yes, there appears to be an outlierYes, observation 8 is an influential observation
The following data on price ($) and the overall score for 6 stereo headphones that were tested by Consumer Reports were as follows.BrandPriceScoreBose19077Scullcandy15074Koss9564Phillips/O'Neill8056Denon8050JVC3527a. Does the t test indicate a significant relationship between price and the overall score? The test t-Conclusion at α= .05t= (to 2 decimal places.)4.68
p-value is What is your conclusion? Use α= .05..b. Test for a significant relationship using the Ftest. p-value is What is your conclusion? Use α= .05.
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