Reference no: EM13583209

Health experts recommend that runners drink 4 ounces of water every 15 minutes they run.

Runners who run three to eight hours need a larger capacity hip mounted or over the Shoulder hydration system. The following data show the liquid volume (fl 0z) and the price for 26 Ultimate Direction hip-mounted or over the shoulder hydration systems. (Trial Runner Gear Guide, 2003

Model	Volume(fl oz.)	Price ($)
Fastdraw	20	10
Fastdraw Plus	20	12
Fitness	20	12
Access	20	20
Access Plus	24	25
Solo	20	25
Serenade	20	35
Solitaire	20	35
Gemini	40	45
Shadow	64	40
Express	20	30
Lightning	28	40
Elite	40	60
Extender	40	65
Stinger	32	65
GelFlask Belt	4	20
DelDraw	4	7
GelFlask Clip-on Holster	4	10
GelFlask Holster SS	4	10
Strider (W)	20	30
Solitude I.C.E.	20	35
Getaway I.C.E.	40	55
Profile I.C.E.	64	50
Traverse I.C.E.	64	60

1. Use methods of descriptive statistics to summarize the data. Comment on the findings

2. Develop the estimated regression equation that could be used to predict the Price of hydration system.

3. At the 0.05 level of significance, determine whether the Price of hydration system and its Liquid Volume are related.

4. Explain if the estimated regression equation provide a good fit or not.