c) The store owner lets you know they are introducing a new bike. Using your model above what is your predictionfor the price of the new bike if the bike weighs 17 pounds and is American Made. Searching for solitary activities this past year you have gotten into road biking. Looking to upgrade your ride for nextyear you have been looking at high end bikes. Using data from your local bike store you ran a regression on the tenbrands they carry. The output is shown below.Your independent variable was Price. AmericanMade is a dummy variable with a 1 for Bikes made in the US and a 0 forBikes made elsewhere. Weight is measured in pounds.SUMMARYOUTPUTRegression StatisticsMultiple RR SquareAdjusted RSquare0.9350.8750.839Standard Error964.770Observations10ANOVAdfSMSFSignificance FRegressionResidualTotal2 45605338 22802669 24.498440.00069176515462930780.39 52120800StandardUpperLowerUpperCoefficientsErrort StatP-valueLower 95%95%95.0%95.0%36268.56InterceptAmericanMade27877.153548.737.860.000119485.74 36268.5619485.74551.15693.750.790.4530-1089.312191.60-1089.312191.60Weight (Ibs)-1390.84215.62-6.450.0004-1900.69-880.99-1900.69-880.99a) Write out the regression equation using the results from above.b) Interpret the coefficient on Weight.

The regression line is given by Price = 27877.15 +551.15AmericanMage - 1390.84Weight

Answered: a) Write out the regression equation…

Math

Statistics

a) Write out the regression equation using the results from above. b) Interpret the coefficient on Weight.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: Question 4: Trying to determine the number of students to accept is a tricky task for universities.…

Q: Please show step by step work: Assume that there is a positive linear correlation between the…

A: a) The regression equation is R = 2.3t + 5.5, where t is the age in years of the investment and R…

Q: Listed below are the numbers of cricket chirps in 1 minute and the corresponding temperatures in °F.…

A: Solution

Q: The accompanying table provides data for the sex, age, and weight of bears. For sex, let 0 represent…

A: Given data is entered in excel as shown below Sex Age Weight 1 18 72 1 55 336 1 80 415 1…

Q: Interpret the slope associated with mother's height.

A: The slope associated with mother's height is 0.65795.

Q: 1. The last snowstorm lasted 6 hours. Over that time, the amount of snowfall was measure hourly,…

A: Given dataTime(Hours) Total accumulation (cm) 2 8 3…

Q: a) Use software to find the multiple linear regression equation. Enter the coefficients rounded to 4…

A: We perform regression using the step by step procedure in excel as, Enter the values into excel…

Q: A study investigated how the content of vitamin A in carrots is affected by the time being cooked.…

A: The least regression equation for the relationship between X and Y is mentioned as; Y = 21.4 –…

Q: The table shows the number of goals allowed and the total points earned (2 points for a win, and 1…

A: We have to calculate coefficient of determination and standard error

Q: Select one: True False d.In regression analysis, the independent variable is a variable whose…

A: The regression model shows a relationship between 1 dependent variable (DV) and 1 or more…

Q: Estimate a regression equation (electricity sales) using only number of customers as a predictor…

A: First enter the data in Excel.

Q: An independent mail delivery service wants to study factors that affect the daily gas usage of its…

A: There are 1 dependent variable and 4 independent variables. This is multiple regression model. We…

Q: Consider the regression equation: GPA = = barisan + B 3 athlete апты Вот B1 drink tB2 study excluded…

A: The question is asking whether the coefficients of a multiple regression equation would change if a…

Q: A researcher is interested in seeing the relationship between the number of hours slept and mood.…

A: Regression: The regression analysis is conducted here by using EXCEL. The software procedure is…

Q: The money raised and spent (both in millions of dollars) by all congressional campaigns for 8 recent…

A: Correlation is a statistical technique that is used to determine the association between the…

Q: The table shows the number of goals allowed and the total points earned (2 points for a win, and 1…

A: (a) The regression analysis is conducted using EXCEL. The software procedure is given below: Enter…

Q: A B Math Grade English Grade 86 80 90 88 78 85 88 87 89 90 90 94 91 93 77 80 85 80 78 80

Q: The table shows the number of goals allowed and the total points earned (2 points for a win, and 1…

A: Given,

Q: Determine the regression equation X 1 3 4 y 3,13 3,76 6,94| 12,62 | 20,86 31,33

Q: Find the coefficient of determination and interpret the result.

A: Here dependent variable (y) = Money spent Independent variable (x) = Money raised Sample size (n) =…

Q: Researchers are interested in predicting the height of a child based on the heights of their mother…

A: The dependent variable is child’s height.

Q: A pack of gum at the grocery store is $1.75. We collect data on the amount of money different…

A: The regression model shows the relationship between 1 dependent variable and 1 or more independent…

Q: Refer to the data set: (1, 2.5), (2.5, 15), (0.5, 2), (-2, 0.5), (0, 1), (1.5, 5) Part a: Make a…

A: Scatter plot The linear regression model is best fit

Q: Assume that you want to predict Company Performance based on the linear effects of Trust and…

A: Regression Analysis: Regression analysis is a statistical test that is used to determine the…

Q: What is the linear regression of the data? y = x- 1,3,5,7,9, y- 3,7,13,17,23

A: Let the linear regression be y = a+bx

Q: Write out the regression equation.

A: Hello, since your question has multiple sub-parts, we will solve first three sub-parts for you. If…

Q: then use the regression equation to predict the value of y for each of the given x values, if…

A: Steps to construct scatter plot in Excel: Enter the data for x and y in Excel sheet>Select the…

Q: Write a multiple regression equation that can be used to analyze the data for a two-factorialdesign…

A: Let x be the variable representing factor A with two levels such that Since factor…

Q: 1. Develop a simple linear regression equation for starting salaries using an independent variable…

A: Since you have asked multiple question, we will solve the first question for you. If youwant any…

Q: Use the table below to find the regression coefficients for b_0 and b_1. Explain what b_0 and b_1…

Q: A doctor wanted to determine whether there is a relation between a male’s age and his HDL (so-called…

A: In this case, HDL cholesterol is predicted on the basis of age. The HDL cholesterol level of a…

Q: Explain what the Coefficient of Determination (R2: R squared) is, and explain how the measure is…

A: Coefficient of Determination (R2): The coefficient of determination measures, how much variability…

Q: Rental ($) Bedrooms Age Blocks 800 3 15 1300 2 11 1600 2.5 2500 18 2.5 2800 4. 11 2.5 3300 4 10 2.5…

Q: A business statistics professor would like to develop a regression model to predict the exam scores…

A: Note: Hi there! Thank you for posting the question. As your question has more than 3 parts, we have…

Q: Regression refers to a dependent variable (Y) and an independent variable (X). Explain the meaning…

A: In the regression, there are terms called dependent variable (Y) and an independent variable (X).

Q: The table shows the number of goals allowed and the total points earned (2 points for a win, and 1…

Q: Find the regression equation, letting the first variable be the predictor (x) variable. Using the…

A: The independent variable is age of best actress (x) and the dependent variable is age of best actor…

Q: Data on tuition and mid-career salary are collected from a number of universities and colleges. The…

A: The independent variable is annual tuition. The dependent variable is average mid-career salary of…

Q: Write a short note on regression analysis

A: The regression analysis is the study of the nature the relationship of between the variables. There…

Concept explainers

Correlation

Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.

Linear Correlation

A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.

Regression Analysis

Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.

Question

c) The store owner lets you know they are introducing a new bike. Using your model above what is your prediction
for the price of the new bike if the bike weighs 17 pounds and is American Made.

Searching for solitary activities this past year you have gotten into road biking. Looking to upgrade your ride for next
year you have been looking at high end bikes. Using data from your local bike store you ran a regression on the ten
brands they carry. The output is shown below.
Your independent variable was Price. AmericanMade is a dummy variable with a 1 for Bikes made in the US and a 0 for
Bikes made elsewhere. Weight is measured in pounds.
SUMMARY
OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R
Square
0.935
0.875
0.839
Standard Error
964.770
Observations
10
ANOVA
df
S
MS
F
Significance F
Regression
Residual
Total
2 45605338 22802669 24.49844
0.000691
7
6515462
930780.3
9 52120800
Standard
Upper
Lower
Upper
Coefficients
Error
t Stat
P-value
Lower 95%
95%
95.0%
95.0%
36268.56
Intercept
AmericanMade
27877.15
3548.73
7.86
0.0001
19485.74 36268.56
19485.74
551.15
693.75
0.79
0.4530
-1089.31
2191.60
-1089.31
2191.60
Weight (Ibs)
-1390.84
215.62
-6.45
0.0004
-1900.69
-880.99
-1900.69
-880.99
a) Write out the regression equation using the results from above.
b) Interpret the coefficient on Weight.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Question 1

VIEW

Question 2

VIEW

Question 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Correlation, Regression, and Association$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions

solve c only
also compute the regression equation in which you predict Y using X as the predictor variable
(d)Assess the regression model's fit
d. Using the regression results reported above, please calculate and interpret the separate effects of being an athlete on college GPA for men and women.
An educator wants to see how the number of absences for a student in her class affects the student’s final grade by formulating the equation of the regression line. The data obtained from a sample are shown. Required: Slope of the regression line Only the final answer should be rounded-off to TWO decimal places.
Researchers are interested in predicting the height of a child based on the heights of their mother and father. Data were collected, which included height of the child (height ), height of the mother ( mothersheight), and height of the father (fathersheight ). The initial analysis used the heights of the parents to predict the height of the child (all units are inches). The results of the analysis, a multiple regression, are presented below. . regress height mothersheight fathersheight Source Model Residual Total height mothersheight fathersheight _cons SS df 208.008457 314.295372 37 2 104.004228 8.49446952 MS 522.303829 39 13.3924059 Coef. Std. Err. .6579529 .1474763 .2003584 .1382237 9.804327 12.39987 t P>|t| 4.46 0.000 C 0.156 0.79 0.434 Number of obs = F( 2, 37) = Prob > F R-squared Adj R-squared Root MSE = .3591375 -.0797093 -15.32021 = 40 12.24 0.0001 0.3983 0.3657 2.9145 [95% Conf. Interval] .9567683 .4804261 34.92886 What is the predicted height for a child born to a mother…
Calculate two lines of regression and calculate a linear regression equation to model the data given below: years (1980,1985,1990,1995,2000) Enrolment ( 21,25,29,39,47)
A student used multiple regression analysis to study how family spending (y) is influenced by income (X1), family size (x2), and additions to savings (x3). The variables y, x1, and x3 are measured in thousands of dollars. The following results were obtained.
Pls help with below homework-) Show transformation of switching equation into a regression equation.
i. Determine the dependent and independent variable ii. Based on the output, state the simple linear regression model. ii. Interpret the linear regression model obtained in part (b).
How to know if obtaining a regression equation for the data appear reasonable?
Used cars 2010 Vehix.com offered several used ToyotaCorollas for sale. The following table displays the ages ofthe cars and the advertised prices. a) Make a scatterplot for these data.b) Do you think a linear model is appropriate? Explain.c) Find the equation of the regression line. d) Check the residuals to see if the conditions for infer-ence are met. Age (yr) Price ($) Age (yr) Price ($)1 15988 6 99951 13988 6 119882 14488 7 89903 10995 8 94883 13998 8 89954 13622 9 59904 12810 10 41005 9988 12 2995