Answer:
Check the explanation
Step-by-step explanation:
Slope of the regression equation is
and intercept of the equation will be
So the regression equation will be
y'=28818.00-1439.01x
C.
the attached images below comprise of the output of the regression analysis generated by excel:
Intercept:
Hypotheses are:
t-value of intercept is 8.820
P-value is 0.0000
Since p-value is less than 0.05 so intercept is significant to the model.
Slope:
Hypotheses are:
t-value of intercept is -7.12
P-value is 0.0000
Since p-value is less than 0.05 so slope is significant to the model.
D.
Since from regression output R-square is 0.864 so 86.4% of the variation in the prices of the bicycles is accounted for by the weight of bicycles.
E.
For X= 15 estimated y value is
y'=28818.00-1439.01*15 = 7232.85
hence, required predicted price is $7232.85.
