Model Weight (Ibs) Price ($) Fierro 7B НX 5000 Durbin Ultralight Schmidt 17.9 2200 16.2 6350 15.0 8470 16.0 6300 WSiton Advanced 17.3 4100 bicyclette vélo Supremo Team 13.2 8700 16.3 6100 XTC Racer 17.2 2680 D'Onofrio Pro 17.7 3500 Americana #6 14.2 8100
Bicycling World, a magazine devoted to cycling, reviews hundreds of bicycles throughout
the year. Its Road-Race category contains reviews of bicycles used by riders primarily interested
in racing. One of the most important factors in selecting a bicycle for racing is its
weight. The following data show the weight (pounds) and price ($) for ten racing bicycles
reviewed by the magazine:
a. Develop a scatter chart with weight as the independent variable. What does the scatter
chart indicate about the relationship between the weight and price of these bicycles?
b. Use the data to develop an estimated regression equation that could be used to estimate
the price for a bicycle, given its weight. What is the estimated regression model?
c. Test whether each of the regression parameters b0 and b1 is equal to zero at a 0.05
level of significance. What are the correct interpretations of the estimated regression
parameters? Are these interpretations reasonable?
d. How much of the variation in the prices of the bicycles in the sample does the regression
model you estimated in part b explain?
e. The manufacturers of the D’Onofrio Pro plan to introduce the 15-pound D’Onofrio
Elite bicycle later this year. Use the regression model you estimated in part a to predict
the price of the D’Ononfrio Elite.
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