Explanatory power of the regression equation

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Reference no: EM13995442

1. In a PC World comparison of computer hard drives, data describing the drives included the following variables: price (dollars), disk capacity (gigabytes), and rotational speed (RPM). The data are in file XR17027. With y 5 price, x1 5 disk capacity, and x2 5 rotational speed (coded as 1 5 7200 RPM and 0 5 5400 RPM), determine the linear regression equation for estimating price as a function of the two predictor variables and interpret the partial regression coefficients. For a given storage capacity, how much extra would one expect to pay for a hard drive with the higher rotational speed? Source: Stan Miastkowski,

2. For a small sample of suburban homes recently sold, the selling price ($), living space (square feet), and suburban area (Sunny Haven, Easy Acres, or Rolling Hills) have been recorded. Given the data shown here, determine the linear regression equation for estimating selling price based on the other variables. For any qualitative variables that are used, be sure to specify the coding strategy employed for each. Comment on the explanatory power of the regression equation and interpret the partial regression coefficients.

"Livin' Large," PC World, March 2001, p. 109.	Home	Price	Space	Area
17.28 A researcher has observed 50 automatic teller	1	167,900	2860	Easy
machine (ATM) users outside the gift shop of a museum,	2	184,800	2050	Sunny
and the data are in file XR17028. With y 5 amount with-	3	161,000	2110	Rolling
drawn (dollars), x1 5 time required for the transaction	4	160,800	2950	Easy
(seconds), and x2 5 gender (1 5 female, 0 5 male),	5	148,200	1570	Sunny
determine the linear regression equation for estimating	6	128,600	1860	Rolling
the withdrawal amount as a function of the two predic-	7	145,700	2620	Rolling
tor variables and interpret the partial regression coef-	8	178,500	2010	Sunny
ficients. According to the equation, how much difference	9	146,100	2710	Easy
does gender tend to make in the amount Withdrawn?	10	146,300	2200	Rolling

Reference no: EM13995442

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