a)
linear model is not appropriate
b)
price | rating | rating^2 |
1600 | 18 | 324 |
4000 | 19 | 361 |
1000 | 18 | 324 |
1400 | 19 | 361 |
380 | 16 | 256 |
2550 | 19 | 361 |
425 | 18 | 324 |
420 | 17 | 289 |
120 | 17 | 289 |
77.5 | 15 | 225 |
66 | 14 | 196 |
140 | 16 | 256 |
440 | 17 | 289 |
230 | 16 | 256 |
66 | 13 | 169 |
Using Excel
data -> data analysis -> regression
SUMMARY OUTPUT | |||||
Regression Statistics | |||||
Multiple R | 0.8454 | ||||
R Square | 0.7147 | ||||
Adjusted R Square | 0.6671 | ||||
Standard Error | 648.7156 | ||||
Observations | 15 | ||||
ANOVA | |||||
df | SS | MS | F | Significance F | |
Regression | 2 | 12650206.6792 | 6325103.3396 | 15.0300 | 0.0005 |
Residual | 12 | 5049982.5542 | 420831.8795 | ||
Total | 14 | 17700189.2333 | |||
Coefficients | Standard Error | t Stat | P-value | Lower 95% | |
Intercept | 33664.9232 | 13256.3624 | 2.5395 | 0.0260 | 4781.7908 |
rating | -4550.7191 | 1638.6249 | -2.7772 | 0.0167 | -8120.9761 |
rating^2 | 152.9724 | 50.2008 | 3.0472 | 0.0101 | 43.5942 |
price = 33665 -4551 Rating + 153 Rating^2
R^2 = 0.715
F = 15.03
p-value = 0.0005
c)
log price) | log (Rating) |
7.377759 | 2.890372 |
8.29405 | 2.944439 |
6.907755 | 2.890372 |
7.244228 | 2.944439 |
5.940171 | 2.772589 |
7.843849 | 2.944439 |
6.052089 | 2.890372 |
6.040255 | 2.833213 |
4.787492 | 2.833213 |
4.350278 | 2.70805 |
4.189655 | 2.639057 |
4.941642 | 2.772589 |
6.086775 | 2.833213 |
5.438079 | 2.772589 |
4.189655 | 2.564949 |
SUMMARY OUTPUT | |||||
Regression Statistics | |||||
Multiple R | 0.8838 | ||||
R Square | 0.7811 | ||||
Adjusted R Square | 0.7642 | ||||
Standard Error | 0.6505 | ||||
Observations | 15 | ||||
ANOVA | |||||
df | SS | MS | F | Significance F | |
Regression | 1 | 19.6233 | 19.6233 | 46.3776 | 0.0000 |
Residual | 13 | 5.5006 | 0.4231 | ||
Total | 14 | 25.1239 | |||
Coefficients | Standard Error | t Stat | P-value | Lower 95% | |
Intercept | -23.5333 | 4.3368 | -5.4264 | 0.0001 | -32.9024 |
log (Rating) | 10.4817 | 1.5391 | 6.8101 | 0.0000 | 7.1566 |
log(price) = -23.533 + 10.482 log(Rating)
R^2 = 0.781
F = 46.38
p-value = 0.0000
Formulas
Please rate if helpful
Please look below in comments for help in other parts/question
please help $ % 0 8 Format Painter B9#- Clipboard Font Formatting as a Alignment Number...
need helping find the P-value for part C
Topic: Wx Accesst x Excel Or X0 xBook 5 MindTap x 6637 B x C Sign In xMicroso x xBook 1.x x Mail - D x | Floridax M Your qu + X C about:blank Apps Log In-WordPre. C My Courses The.. we MyUCF MindTap-QMB2 GEB3375 Excel Online X template Saved File Review View Tell me what you want to do Home Insert Data SUMMARY OUTPUT K45 A P G H T...