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A consumer analyst collected the following data on the screen

A consumer analyst collected the following data on the screen sizes of popular LCD televisions sold recently at a large retailer:

a. Does there appear to be a linear relationship between the screen size and the price?

b. Which variable is the “dependent” variable?

c. Using statistical software, determine the regression equation. Interpret the value of the slope in the regression equation.

d. Include the manufacturer in a multiple linear regression analysis using a “dummy” variable. Does it appear that some manufacturers can command a premium price?

e. Test each of the individual coefficients to see if they are significant.

f. Make a plot of the residuals and comment on whether they appear to follow a normal distribution.

g. Plot the residuals versus the fitted values. Do they seem to have the same amount ofvariation?

a. Does there appear to be a linear relationship between the screen size and the price?

b. Which variable is the “dependent” variable?

c. Using statistical software, determine the regression equation. Interpret the value of the slope in the regression equation.

d. Include the manufacturer in a multiple linear regression analysis using a “dummy” variable. Does it appear that some manufacturers can command a premium price?

e. Test each of the individual coefficients to see if they are significant.

f. Make a plot of the residuals and comment on whether they appear to follow a normal distribution.

g. Plot the residuals versus the fitted values. Do they seem to have the same amount ofvariation?

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