Question: 5. The following chart provides data that can be used to predict the price for sleeping bags manufactured by Bergans of Norway. Excel was used

5. The following chart provides data that can be used to predict the price for sleeping bags manufactured by Bergans of Norway. Excel was used to perform a simple linear regression analysis and the data is provided below. Use the regression analysis to answer the following questions. Model Rating Price Ranger 3-Seasons 12 319 Ranger Spring 24 289 Ranger Winter 3 389 Rondane 3-Seasons 13 239 Rondane Summer 38 149 Rondane Winter 4 289 Senja Ice 5 359 Senja Snow 15 259 Senja Zero 25 229 Super Light 45 129 Tight & Light 25 199SUMMARY OUTPUT Regression Statistics Multiple R 0.896847 R Square 0.804334 Adjusted R Square 0.782593 Standard Error 37.93721 Observations 11 ANOVA Significance df SS MS F F Regression 1 53246.91 53246.91 36.99676 0.000183 Residual 9 12953.09 1439.232 Total 10 66200 Standard Upper Lower Upper Coefficients Error t Stat P-value Lower 95% 95% 95.0% 95.0% Intercept 359.2667 20.06432 17.90575 2.4E-08 313.8781 404.6554 313.8781 404.6554 Rating -5.2772 0.867604 -6.0825 0.000183 -7.23985 -3.31454 -7.23985 -3.31454 State the simple linear regression equation. b. What is your estimate for coefficient b, and interpret it.c. Is the estimated regression line a good t to the data? Explain. d. Develop a point estimate of the price for a sleeping bag with a temperature rating of 30. e. Develop a 95% condence interval for the mean overall temperature rating for all sleeping bags with a temperature rating of 30. f. Suppose that Bergans developed a new model with a temperature rating of 30. Develop a 95% prediction interval for the price of this new model

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