EBK STATISTICS FOR BUSINESS & ECONOMICS
12th Edition
ISBN: 8220100460463
Author: Anderson
Publisher: CENGAGE L
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Chapter 14.2, Problem 11E
Sporty cars are designed to provide better handling, acceleration, and a more responsive driving experience than a typical sedan. But, even within this select group of cars, performance as well as price can vary. Consumer Reports provided road-test scores and prices for the following 12 sporty cars (Consumer Reports website. October 2008). Prices are in thousands of dollars and road-test scores arc based on a 0–100 rating scale, with higher values indicating better performance.
| Car | Price ($1000s) | Road-Test Score |
| Chevrolet Cobalt SS | 24.5 | 78 |
| Dodge Caliber SRT4 | 24.9 | 56 |
| Ford Mustang GT (V8) | 29.0 | 73 |
| Honda Civic Si | 21.7 | 78 |
| Mazda RX-8 | 31.3 | 86 |
| Mini Cooper S | 26.4 | 74 |
| Mitsubishi Lancer Evolution GSR | 38.1 | 83 |
| Nissan Sentra SE-R Spec V | 23.3 | 66 |
| Suburu Impreza WRX | 25.2 | 81 |
| Suburu Impreza WRX Sti | 37.6 | 89 |
| Volkswagen GTI | 24.0 | 83 |
| Volkswagen R32 | 33.6 | 83 |
- a. Develop 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.
- d. Provide an interpretation for the slope of the estimated regression equation.
- e. Another sporty car that Consumer Reports tested is the BMW 135i; the price for this car was $36,700. Predict the road-test score for the BMW 135i using the estimated regression equation developed in part (c).
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Chapter 14 Solutions
EBK STATISTICS FOR BUSINESS & ECONOMICS
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