Automobile racing, high-performance driving schools, and driver education programs run by automobile clubs continue to grow in

Question:

Automobile racing, high-performance driving schools, and driver education programs run by automobile clubs continue to grow in popularity. All these activities require the participant to wear a helmet that is certified by the Snell Memorial Foundation, a not-for-profit organization dedicated to research, education, testing, and development of helmet safety standards. Snell €œSA€ (Sports Application) rated professional helmets are designed for auto racing and provide extreme impact resistance and high fire protection. One of the key factors in selecting a helmet is weight, since lower weight helmets tend to place less stress on the neck. The following data show the weight and price for 18 SA helmets (SoloRacer website, April 20, 2008).

a. Develop a scatter diagram with weight as the independent variable.
b. Does there appear to be any relationship between these two variables?
c. Develop the estimated regression equation that could be used to predict the price given the weight.
d. Test for the significance of the relationship at the .05 level of significance.
e. Did the estimated regression equation provide a good fit?Explain.