Question: Bicycling the world s leading cycling magazine reviews hundreds of bicycles

Bicycling, the world’s leading cycling magazine, reviews hundreds of bicycles throughout the year. The magazine’s “Road-Race” category contains reviews of bikes used by riders primarily interested in racing. One of the most important factors in selecting a bike for racing is the weight of the bike. The following data show the weight (pounds) and price ($) for 10 racing bikes reviewed by the magazine (Bicycling website, March 8, 2012).

a. Use the data to develop an estimated regression equation that could be used to estimate the price for a bike given the weight.
b. Compute r2. Did the estimated regression equation provide a good fit?
c. Predict the price for a bike that weighs 15pounds.

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  • CreatedFebruary 16, 2015
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