The Tire Rack, America's leading online distributor of tires and wheels, conducts extensive testing to provide...

The Tire Rack, America's leading online distributor of tires and wheels, conducts extensive testing to provide customers with products that are right for their vehicle. The following data show survey ratings (1 to 10, with 10 being the highest) for 18 summer tires. Develop an estimated regression equation that can be used to predict the Buy Again rating given based on the Steering and Tread wear rating. How many percent of the variation in the Buy Again variable could be predicted by Steering and Thread wear rating?

Note: put answers into decimal form, if your answer is 90.8765%, enter in 0.908765.

Solutions

Expert Solution

X1 =Steering

X2 =Thread wear

Y =Buy Again

So, the regression equation is:

=0.68987X1 + 0.91133X2 - 5.38767

Coefficient of determination, R² =0.931762.

So, 93.1762 percent of the variation in the Buy Again variable could be predicted by Steering and Thread wear rating.

milcah answered 8 months ago

Next > < Previous

Related Solutions

The Tire Rack, America’s leading online distributor of tires and wheels, conducts extensive testing to provide...

The Tire Rack, America’s leading online distributor of tires and wheels, conducts extensive testing to provide customers with products that are right for their vehicle, driving style, and driving conditions. In addition, the Tire Rack maintains and independent consumer survey to help drivers help each other by sharing their long-term driving experiences. The following data show survey ratings (1 to 10 scale with 10 the highest rating) for 18 maximum performance summer tires. The variable Steering rates the tire’s steering...

The Tire Rack, America’s leading online distributor of tires and wheels, conducts extensive testing to provide...

The Tire Rack, America’s leading online distributor of tires and wheels, conducts extensive testing to provide customers with products that are right for their vehicle, driving style, and driving conditions. In addition, the Tire Rack maintains an independent consumer survey to help drivers help each other by sharing their long-term tire experiences. The following data show survey ratings (1 to 10 scale with 10 the highest rating) for 18 maximum performance summer tires. The variable Steering rates the tire’s steering...

A tire company has developed a new type of steel-belted radial tire. Extensive testing indicates the...

A tire company has developed a new type of steel-belted radial tire. Extensive testing indicates the population of mileages obtained by all tires of this new type is normally distributed with a mean of 39,531 miles and a standard deviation of 4,075 miles. The company wishes to offer a guarantee providing a discount on a new set of tires if the original tires purchased do not exceed the mileage stated in the guarantee. What should the guaranteed mileage be if...

After extensive research and development, Goodweek Tires, Inc., has recently developed a new tire, the SuperTread,...

After extensive research and development, Goodweek Tires, Inc., has recently developed a new tire, the SuperTread, and must decide whether to make the investment necessary to produce and market it. The tire would be ideal for drivers doing a large amount of wet weather and off-road driving in addition to normal freeway usage. The research and development costs so far have totaled about $10 million. The SuperTread would be put on the market beginning this year, and Goodweek expects it...

After extensive research and development, Goodweek Tires, Inc., has recently developed a new tire, the SuperTread,...

.Tire manufacturer is interested in testing the fuel economy for two different tread patterns. Tires of...

.Tire manufacturer is interested in testing the fuel economy for two different tread patterns. Tires of each tread type were driven for 1000 miles on each of 9 different cars. The mileages, in miles per gallon, were as follows. Test whether the mean mileage is the same for both types of tread. (ANOVA test) Car 1 2 3 4 5 6 7 8 9 Tread A 24.7 22.5 24.0 26.9 22.5 23.5 22.7 19.7 27.5 Tread B 20.3 19.0 22.5...

A tire manufacturer is interested in testing the fuel economy for two different tread patterns. Tires...

A tire manufacturer is interested in testing the fuel economy for two different tread patterns. Tires of each tread type were driven for 1000 miles on each of 9 different cars. The mileages, in miles per gallon, were as follows: Car Tread A Tread B 1 24.7 20.4 2 22.6 19.0 3 23.9 22.4 4 26.8 23.0 5 22.4 20.8 6 23.4 23.5 7 22.6 21.3 8 19.7 18.1 9 27.3 25.8 (a) Construct an 80% confidence interval for the...

A bicycle manufacturer buys 5000 tires a year from a distributor. It cost 6 to store one bicycle tire for a year.

A bicycle manufacturer buys 5000 tires a year from a distributor. It cost 6 to store one bicycle tire for a year. To re-order, there is a fixed cost of $24 per shipment plus $11 for each tire. How many times per year should the manufacturer order bicycle tires and in what lot size, to minimize inventory cost?

Subjects