Model overestimate or underestimate the price

Assignment Help Basic Statistics

Reference no: EM131008994

For the disk drives in Exercise 2 (as corrected in Exercise 12), we want to predict Price from Capacity.

a) Find the slope estimate, b1.

b) What does it mean, in this context?

c) Find the intercept, b0.

d) What does it mean, in this context? Is it meaningful?

e) Write down the equation that predicts Price from Capacity.

f) What would you predict for the price of a 3.0 TB disk?

g) You have found a 3.0 TB drive for $300. Is this a good buy? How much would you save compared to what you expected to pay?

h) Does the model overestimate or underestimate the price?

Reference no: EM131008994

Questions Cloud

Compare person-centered theory with maslow hierarchy of need : Write a 700- to 1050-word paper analyzing the humanistic approaches to personality. Your paper should cover the following areas: Compare person-centered theory with Maslow's Hierarchy of needs

International food survey : International food survey, part 2. Look again at the data from the Gf K Roper Worldwide survey on food attitudes in Exercise 45. a) If we select a respondent at random, what's the probability we choose a person between 13 and 19 years old who ag..

Brief description of the psychological test : Brief description of the psychological test that you were assigned. Then, explain one challenge to reliability and validity in using, interpreting or incorporating this psychological test in your future professional practice

Problem regarding the automobile inspection : Twenty percent of cars that are inspected have faulty pollution control systems. The cost of repairing a pollution control system exceeds $100 about 40% of the time.

Model overestimate or underestimate the price : You have found a 3.0 TB drive for $300. Is this a good buy? How much would you save compared to what you expected to pay? Does the model overestimate or underestimate the price?

Sales from number of sales people working : For the hard drive data in Exercise 2, some research on the prices discovered that the 200 GB hard drive was a spe- cial "hardened" drive designed to resist physical shocks and work under water. Because it is completely different from the other dr..

What is the social problem the researchers are investigating : What is the social problem the researchers are investigating? What is the research method (i.e.: survey, participant observation, experiment, secondary sources) used by the researchers

Association of online merchants : A study finds that during blizzards, online sales are highly associated with the number of snow plows on the road; the more plows, the more online purchases. The director of an association of online merchants suggests that the organization should ..

Determine the effect of fiber diameter on threshold : Determine the threshold current amplitude for a range of pulse widths and plot the current threshold (Y axis) vs. the pulse width (X-axis). Explain why this relationship exists. Identify which point (stimulus pulse) on your curve uses the minimum ..

User Account

All Pages