Reference no: EM13580245

Elliptical trainers are becoming one of the more popular exercise machines. Their smoothand steady low-impact motion makes them a preferred choice for individuals with kneeand ankle problems. But selecting the right trainer can be a difficult process. Price andquality are two important factors in any purchase decision. Are higher prices generally associatedwith higher quality elliptical trainers? Consumer Reports conducted extensivetests to develop an overall rating based on ease of use, ergonomics, construction, andexercise range. The following data show the price and rating for eight elliptical trainerstested (Consumer Reports, February 2008).Brand and Model Price ($) RatingPrecor 5.31 3700 87Keys Fitness CG2 2500 84Octane Fitness Q37e 2800 82LifeFitness X1 Basic 1900 74NordicTrack AudioStrider 990 1000 73Schwinn 430 800 69Vision Fitness X6100 1700 68ProForm XP 520 Razor 600 55

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

b. An exercise equipment store that sells primarily higher priced equipment has a signover the display area that says "Quality: You Get What You Pay For." Based upon youranalysis of the data for ellipical trainers, do you think this sign fairly reflects the pricequalityrelationship for 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 ellipitical trainer witha price of $1500.