Consumers have a wide variety of options when choosing Wi-Fi and Bluetooth speaker systems. However, selecting a

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Consumers have a wide variety of options when choosing Wi-Fi and Bluetooth speaker systems. However, selecting a speaker system that provides good sound at a reasonable price can be difficult. The following data show the price and overall rating for a sample of 25 portable speaker systems that Consumer Reports tested (Consumer Reports website, January 28, 2014). The overall rating is based upon the sound quality, ease of use, and versatility of the speaker, with higher ratings indicating better overall performance.

Consumers have a wide variety of options when choosing Wi-Fi
Consumers have a wide variety of options when choosing Wi-Fi

a. Develop a scatter diagram with Price as the independent variable. Does there appear to be a relationship between the variables?
b. Develop the estimated regression equation that can be used to predict the rating given the price.
c. At the .05 level of significance, is there a significant relationship between the two variables?
d. Did the estimated regression equation provide a good fit?
e. Use residual analysis to determine if there are any outliers or influential observations. Briefly summarize your findings.
f. Consumer Reports also tested Wi-Fi and Bluetooth speaker systems developed for home use. One of the models tested is the JBLOnBeat Rumble with a price of $400.
Assuming the estimated regression equation developed for the portable speaker systems is also appropriate for home speaker systems, predict the overall rating for the JBLOnBeat Rumble speaker.

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Essentials Of Modern Business Statistics With Microsoft Excel

ISBN: 9781285867045

6th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

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