Question: need help with problems 3,4,5,6 only Questions 1-6 are based on the following scenario: Designers of backpacks use exotic material such as supernylon Delrin, high-density
Questions 1-6 are based on the following scenario: Designers of backpacks use exotic material such as supernylon Delrin, high-density ethylene, aircraft aluminum, and thermo molded foam to make packs that fit comfortably and distribute weight to eliminate pressure points. The following data show the capacity (cubic inches), comfort rating, and price (dollars) for 10 backpacks tested by Outside Magazine. Comfort was measured using a rating from 1 to 5 , with a rating of 1 denoting average comfort and a rating of 5 denoting excellent comfort. Regress price on comfort and capacity using excel and answer the following questions. 1. What is the interpretation of adjusted R-square for this problem? Adsusted R Square is .783796=78.38% Reqression model explains 78.38% of the data's 2. What price would you predict for a backpack with a mean capacity of 5700 (cubic inches) and comfort rating of 4 ? $284.74861 3. Provide the appropriate test statistic and p-value for assessing whether there is evidence that comfort aids in predicting price. 4. Provide an interpretation for the sample regression coefficient of capacity. 5. Is the overall model significant at 0.05 level of significance? Why or Why not. 6. Does capacity aid in predicting price at 0.05 level of significance? Why or Why not (4 points) Data for this scenario is as follows
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