A video media consultant collected the following data on popular LCD televisions sold through on-line retailers....

A video media consultant collected the following data on popular LCD televisions sold through on-line retailers.

Manufacturer	Screen (in inches)	Price ($)
Sharp	52	1,549.25
Samsung	30	402.00
Samsung	49	1,632.00
Sony	33	480.50
Sharp	34	411.00
Samsung	51	1,488.25
Samsung	50	1,729.00
Sharp	31	432.75
Sharp	48	1,481.25
Sony	33	400.75
Sony	37	513.50
Samsung	33	486.50
Sharp	43	1,078.25
Sharp	32	463.00
Sharp	30	469.25
Samsung	51	1,721.00
Sharp	52	1,746.75
Samsung	33	467.50
Sony	38	636.75
Sony	32	421.75
Sony	42	871.00
Sony	49	1,548.25
Sony	40	812.00

a) Does there appear to be a linear relationship between the screen size and the price?

b) Which variable is the "dependent" variable?

c-1) Use statistical software to determine the regression equation. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)

c-2) Interpret the value of the slope in the regression equation. (Round your answer to 3 decimal places.)

d) Include the manufacturer in a multiple linear regression analysis using a "dummy" variable. Does it appear that some manufacturers can command a premium price? Hint: You will need to use a set of indicator variables. (Negative amounts should be indicated by a minus sign. Round your answers to 3 decimal places.)

e) Test each of the individual coefficients to see if they are significant. (Negative amounts should be indicated by a minus sign. Round your t-statistic to 2 decimal places and p-value to 4 decimal places.)

Solutions

Expert Solution

orchestra answered 1 year ago

Next > < Previous

Related Solutions

A video media consultant collected the following data on popular LCD televisions sold through on-line retailers....

A video media consultant collected the following data on popular LCD televisions sold through on-line retailers. Manufacturer Screen (in inches) Price ($) Sharp 34 459.50 Samsung 52 1,703.25 Samsung 36 733.00 Sony 36 729.75 Sharp 44 1,304.50 Samsung 36 700.00 Samsung 31 409.75 Sharp 35 639.75 Sharp 36 573.25 Sony 43 990.00 Sony 43 863.25 Samsung 40 814.00 Sharp 33 434.50 Sharp 31 455.00 Sharp 44 1,377.00 Samsung 46 1,298.25 Sharp 52 1,493.00 Samsung 50 1,698.50 Sony 33 487.25 Sony...

A consumer analyst collected the following data on the screen sizes of popular LCD televisions sold...

A consumer analyst collected the following data on the screen sizes of popular LCD televisions sold recently at a large retailer: Manufacturer Screen Price Sharp 28 $1,425.00 Samsung 42 2,727.00 Samsung 46 3,025.00 Sony 32 1,412.50 Sharp 31 2,319.50 Samsung 28 1,061.50 Samsung 28 1,165.00 Sharp 48 2,853.50 Sharp 31 1,737.50 Sony 51 2,194.00 Sony 44 2,332.50 Samsung 52 2,955.00 Sharp 32 1,395.00 Sharp 46 2,355.00 Sharp 26 880.00 Samsung 34 1,490.50 Sharp 36 1,369.00 Samsung 39 2,250.00 Sony 28...

Video Concepts, Inc. (VCI) manufactures a line of digital cameras that are distributed to large retailers....

Video Concepts, Inc. (VCI) manufactures a line of digital cameras that are distributed to large retailers. The line consists of three models. The following data are available regarding the models: Model Selling Price per unit Variable Cost per unit Demand/Year (units) Model LX1 $175 $100 2,000 Model LX2 $250 $125 1,000 Model LX3 $300 $140 500 VCI is considering the addition of the fourth model to its line (LX4). The model would be sold to retailers for $375. The variable...

Should recycling fees be collected by retailers when electronic products are sold to consumers, or should...

Should recycling fees be collected by retailers when electronic products are sold to consumers, or should it be assessed at end-of-life (when consumers return products for recycling)? If collected when products are sold, how much would the fee need to be to pay for end-of-life recycling, if you can invest this fee at an interest rate of 5%? If collected at end-of-life, the fee would be the direct cost to recycle. Assume that consumers keep devices on the following schedule:...

According to the article, the data was collected through the following means: “For the study, 1,633...

According to the article, the data was collected through the following means: “For the study, 1,633 participants provided baseline estimates of hand hygiene behaviour and coronavirus infections were identified from nasal swabs…At the start of each season, participants were asked to estimate how many times they had washed their hands the previous day. Frequency of daily hand-washing was subsequently categorized as low, zero to five times daily, moderate, six to 10 times daily, or high, more than 10 times daily.” ...

According to the article, the data was collected through the following means: “For the study, 1,633...

According to the article, the data was collected through the following means: “For the study, 1,633 participants provided baseline estimates of hand hygiene behavior and coronavirus infections were identified from nasal swabs…At the start of each season, participants were asked to estimate how many times they had washed their hands the previous day. Frequency of daily hand-washing was subsequently categorized as low, zero to five times daily, moderate, six to 10 times daily, or high, more than 10 times daily.” ...

A business consultant for the National Transportation Safety Board (NTSB), collected data on the safety of...

A business consultant for the National Transportation Safety Board (NTSB), collected data on the safety of hybrid automobiles traveling at 30, 40 and 50 miles per hour. She randomly assigned the same hybrid model to each condition and collected data on the pressure applied to the driver’s head during a crash into a wall at each speed. What is the independent variable? Dependent variable? Is she able to make cause and effect statements about the cars the head pressure? Explain. ...

A researcher interested in the link between video games and aggression collected data on the number...

A researcher interested in the link between video games and aggression collected data on the number of hours spent playing violent games per week (Independent) and number of aggressive acts per week (Dependent) for a sample of 8 adolescents a) Use the 5-step model to determine whether there is a statistically significant correlation between hours spent playing video games per week and average number of aggressive acts per week. The test statistic: r = 0.741. Set alpha at .05. b)...

Q17 The following data relate to a popular book sold by a publisher: Fixed Costs: Copy Editing...

Q17 The following data relate to a popular book sold by a publisher: Fixed Costs: Copy Editing $ 6,110 Artwork $ 2,250 Typesetting $ 70,853 Variable Costs per copy: Printing and Binding $ 3.17 Bookstore Discounts $ 4.14 Sales Commissions $ 0.59 Author’s Royalties $ 2.44 Each novel copy sells for $ 24 Last month the company sold in copies: 10,771 Production manager suggests to buy an additional machine for $5,250 cost per month and will decrease the variable cost...

Subjects