While browsing through a magazine rack at a bookstore, a statistician decides to examine the relationship between the price of a magazine and the percentage of the magazine space that contains advertisements. The data are given in the following table. 43 49 70 28 65 32 37 58 Percentage containing ads 5.75 3.95 8.25 5.50 6.75 5.50 6.95 4.95 Price ($) a. Construct a scatter diagram for these data. Does the scatter diagram exhibit a linear relationship between the percentage of a magazine's space containing ads and the price of the magazine? Yes. O No. b. Find the estimated regression equation of price on the percentage of space containing ads. Round your answers to four decimal places. 9.930 +(-0.072 c. Interpret the meaning of the values of a and b calculated in part b. a is the price of a magazine with zero percent of the space containing ads. b is the change in the average price of the magazine per one percent increase in space for containing ads.
While browsing through a magazine rack at a bookstore, a statistician decides to examine the relationship between the price of a magazine and the percentage of the magazine space that contains advertisements. The data are given in the following table. 43 49 70 28 65 32 37 58 Percentage containing ads 5.75 3.95 8.25 5.50 6.75 5.50 6.95 4.95 Price ($) a. Construct a scatter diagram for these data. Does the scatter diagram exhibit a linear relationship between the percentage of a magazine's space containing ads and the price of the magazine? Yes. O No. b. Find the estimated regression equation of price on the percentage of space containing ads. Round your answers to four decimal places. 9.930 +(-0.072 c. Interpret the meaning of the values of a and b calculated in part b. a is the price of a magazine with zero percent of the space containing ads. b is the change in the average price of the magazine per one percent increase in space for containing ads.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
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Mann, Introductory Statistics, 9e
While browsing through a magazine rack at a bookstore, a statistician decides to examine the
relationship between the price of a magazine and the percentage of the magazine space that contains
advertisements. The data are given in the following table.
37
43
58
49
70
28
65
32
Percentage containing ads
Price ($)
5.50
6.95
4.95
5.75
3.95
8.25
5.50
6.75
a. Construct a scatter diagram for these data. Does the scatter diagram exhibit a linear relationship
between the percentage of a magazine's space containing ads and the price of the magazine?
Yes.
O No.
b. Find the estimated regression equation of price on the percentage of space containing ads.
Round your answers to four decimal places.
ý = 9.930
+(-0.072
c. Interpret the meaning of the values of a and b calculated in part b.
a is the
price of a magazine with zero percent of the space containing ads.
b is the
change in the average price of the magazine per one percent increase in space for containing ads. ♥
2
tv](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd4486324-0398-4ffc-b6e1-3860c30708a6%2F13f25308-621b-458f-b935-aeaf60d81329%2F12equx_processed.jpeg&w=3840&q=75)
Transcribed Image Text:People
Tab
Window
Help
View History Bookmarks
edugen.wileyplus.com/edugen/student/mainfr.uni
Mann, Introductory Statistics, 9e
While browsing through a magazine rack at a bookstore, a statistician decides to examine the
relationship between the price of a magazine and the percentage of the magazine space that contains
advertisements. The data are given in the following table.
37
43
58
49
70
28
65
32
Percentage containing ads
Price ($)
5.50
6.95
4.95
5.75
3.95
8.25
5.50
6.75
a. Construct a scatter diagram for these data. Does the scatter diagram exhibit a linear relationship
between the percentage of a magazine's space containing ads and the price of the magazine?
Yes.
O No.
b. Find the estimated regression equation of price on the percentage of space containing ads.
Round your answers to four decimal places.
ý = 9.930
+(-0.072
c. Interpret the meaning of the values of a and b calculated in part b.
a is the
price of a magazine with zero percent of the space containing ads.
b is the
change in the average price of the magazine per one percent increase in space for containing ads. ♥
2
tv
![Mann, Introductory Statistics, 9e
20
40
80
Percentage
10.00-
8.00-
6.00-
4.00-
2.00-
0.00-
20
40
60
80
Percentage
e. Predict the price of a magazine with 57% of its space containing ads.
Round your answer to two decimal places.
$4
the tolerance is +/-2%
f. Estimate the price of a magazine with 95% of its space containing ads.
Round your answer to two decimal places.
Why should we have little confidence in this estimate?
The sample of magazines was too small to create an accurate model.
The regression model is based on data for magazines with ad space ranging from 28% to 70%.
The regression model is based on estimates of the ad space percentages.
It is unrealistic to find a magazine with 95% of its space filled with ads.
2
tv
Price](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd4486324-0398-4ffc-b6e1-3860c30708a6%2F13f25308-621b-458f-b935-aeaf60d81329%2Frma26lp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Mann, Introductory Statistics, 9e
20
40
80
Percentage
10.00-
8.00-
6.00-
4.00-
2.00-
0.00-
20
40
60
80
Percentage
e. Predict the price of a magazine with 57% of its space containing ads.
Round your answer to two decimal places.
$4
the tolerance is +/-2%
f. Estimate the price of a magazine with 95% of its space containing ads.
Round your answer to two decimal places.
Why should we have little confidence in this estimate?
The sample of magazines was too small to create an accurate model.
The regression model is based on data for magazines with ad space ranging from 28% to 70%.
The regression model is based on estimates of the ad space percentages.
It is unrealistic to find a magazine with 95% of its space filled with ads.
2
tv
Price
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