Exercise 1405 Elliptical trainers are becoming one of the mo

Exercise 14.05}

Elliptical trainers are becoming one of the more popular exercise machines. Their smooth and steady low-impact motion makes them a preferred choice for individuals with knee and ankle problems. But selecting the right trainer can be a difficult process. Price and quality are two important factors in any purchase decision. Are higher prices generally associated with higher quality elliptical trainers?Consumer Reports conducted extensive tests to develop an overall rating based on ease of use, ergonomics, construction, and exercise range. The following data show the price and rating for eight elliptical trainers tested (Consumer Reports, February 2008).

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

Compute b1 and b0 (to 6 decimals, if necessary).

b1  
b0  

Complete the estimated regression equation (to 6 decimals, if necessary).
=  +  x

Use the estimated regression equation to predict the rating for an ellipitical trainer with a price of $1500. (to the nearest whole number).
=

Solution

Which of the scatter diagram with price as the independent variable.

Predicted value = 71 ( nearest whole number)

Regression Analysis

r