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Use the estimated regression equation to predict the rating

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Reference no: EM13972427

a.) Develop a scatter diagram with price as the independent variable.

b.) An exercise equipment store that sells primarily higher priced equipment has a sign over the display area that says Quality: You get what you pay for. Based upon your analysis of the data for elliptical trainers, do you think this sign fairly reflects the price-quality relationship for the elliptical trainers?

c.) Use the least squares method to develop the estimated regression equation.

d.) Use the estimated regression equation to predict the rating for an elliptical trainer with a price of$1500.

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Reference no: EM13972427

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