A personal watercraft (PWC) is a vessel propelled by water jets, designed to be operated by a

Question:

A personal watercraft (PWC) is a vessel propelled by water jets, designed to be operated by a person sitting, standing, or kneeling on the vessel. In the early 1970s, Kawasaki Motors Corp. U.S.A. introduced the JET SKI® watercraft, the first commercially successful PWC. Today, jet ski is commonly used as a generic term for personal watercraft. The following data show the weight (rounded to the nearest 10 lbs.) and the price (rounded to the nearest $50) for 10 three-seater personal watercraft (Jetski News website, 2006).

a. Develop a scatter diagram for these data with weight as the independent variable.
b. What does the scatter diagram developed in part (a) indicate about the relationship between weight and price?
c. Use the least squares method to develop the estimated regression equation.
d. Predict the price for a three-seater PWC with a weight of 750 pounds.
e. The Honda AquaTrax F-12 weighs 750 pounds and has a price of $9500. Shouldn't the predicted price you developed in part (d) for a PWC with a weight of 750 pounds also be $9500?
f. The Kawasaki SX-R 800 Jetski has a seating capacity of one and weighs 350 pounds.
Do you think the estimated regression equation developed in part (c) should be used to predict the price for this model?