What is the coefficient of the dummy variable? What is the meaning of the coefficient of the dummy variable? Develop a dummy variable that will account for whether the refrigerator has the thru-the-door ice and water feature. Code the dummyvariable with a value of 1 if the refrigerator has the thru-the-door ice and water feature and 0 otherwise. Use this dummy variable todevelop the estimated multiple regression equation to show how list price is related to cubic feet and the thru-the-door ice and waterfeature.Be sure to state the model and interpret the coefficients. Pricing RefrigeratorsBest Buy, a nationwide retailer of electronics, computers, and appliances, sellsseveral brands of refrigerators. A random sample of models of full size refrigeratorsprices sold by Best Buy and the corresponding cubic feet (cu. ft.) and list price follow(source: Best Buy website).ModelFrigidaire Gallery Custom-Flex Top-Freezer RefrigeratorGE French Door RefrigeratorGE Frost-Free Side-by-Side Refrigerator with Thru-the-Door Ice and WaterWhirlpool Top-Freezer RefrigeratorThru-the-Door Ice and Water? Cubic Feet List Price$899.99$1,599.99$1,599.99$749.99NoNoYesNo18.324.825.419.3

Solution: From the given information,

Best Buy, a nationwide retailer of electronics, computers, and appliances, sells several brands of refrigerators. A random sample of models of full size refrigerators prices sold by Best Buy and the corresponding cubic feet (cu. ft.) and list price follow (source: Best Buy website). Model Frigidaire Gallery Custom-Flex Top-Freezer Refrigerator GE French Door Refrigerator GE Frost-Free Side-by-Side Refrigerator with Thru-the-Door Ice and Water Whirlpool Top-Freezer Refrigerator Thru-the-Door Ice and Water? Cubic Feet List Price No $899.99 $1,599.99 No Yes No $1,599.99 $749.99 18.3 24.8 25.4 19.3

Best Buy, a nationwide retailer of electronics, computers, and appliances, sells several brands of refrigerators. A random sample of models of full size refrigerators prices sold by Best Buy and the corresponding cubic feet (cu. ft.) and list price follow (source: Best Buy website). Model Frigidaire Gallery Custom-Flex Top-Freezer Refrigerator GE French Door Refrigerator GE Frost-Free Side-by-Side Refrigerator with Thru-the-Door Ice and Water Whirlpool Top-Freezer Refrigerator Thru-the-Door Ice and Water? Cubic Feet List Price No $899.99 $1,599.99 No Yes No $1,599.99 $749.99 18.3 24.8 25.4 19.3

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter1: Expressions And Functions

Section1.5: Descriptive Modeling And Accuracy

Problem 11PPS

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