A study of external disk drives finds the data in the accompanying table. The le
ID: 3154967 • Letter: A
Question
A study of external disk drives finds the data in the accompanying table. The least squares line is Prince 24 68 + 0.094 Capacity(GB) with s_c= 10.22 and SE(b_1)= 0.0028, where the values are rounded to the number of decimal places shown. The assumptions and conditions for regression are met. Use this information to complete parts a a) Disk drives keep growing in capacity. Some tech experts now talk about Petabyte (PB - 1000 TB = 1,000,000 GB) drives. What does this model predict that a 1.1-PB drive will cost? The predicted price for a 1.1-PB drive is S 103,425".Explanation / Answer
Predicted Price = $103357
B. Find a 95% prediction interval for the price of a 1.1-PB drive. Rounded to the nearest dollar as needed. =( $95569, 111146)
Regression Analysis
r²
0.996
n
7
r
0.998
k
1
Std. Error
10.221
Dep. Var.
price
ANOVA table
Source
SS
df
MS
F
p-value
Regression
121,255.5125
1
121,255.5125
1160.70
4.10E-07
Residual
522.3394
5
104.4679
Total
121,777.8519
6
Regression output
confidence interval
variables
coefficients
std. error
t (df=5)
p-value
95% lower
95% upper
Intercept
24.6819
5.0431
4.894
.0045
11.7181
37.6457
capacity
0.0939
0.0028
34.069
4.10E-07
0.0869
0.1010
Predicted values for: price
95% Confidence Interval
95% Prediction Interval
capacity
Predicted
lower
upper
lower
upper
Leverage
1,100,000
103,357.40475
95,569.04740
111,145.76211
95,569.00308
111,145.80642
87871.105
Regression Analysis
r²
0.996
n
7
r
0.998
k
1
Std. Error
10.221
Dep. Var.
price
ANOVA table
Source
SS
df
MS
F
p-value
Regression
121,255.5125
1
121,255.5125
1160.70
4.10E-07
Residual
522.3394
5
104.4679
Total
121,777.8519
6
Regression output
confidence interval
variables
coefficients
std. error
t (df=5)
p-value
95% lower
95% upper
Intercept
24.6819
5.0431
4.894
.0045
11.7181
37.6457
capacity
0.0939
0.0028
34.069
4.10E-07
0.0869
0.1010
Predicted values for: price
95% Confidence Interval
95% Prediction Interval
capacity
Predicted
lower
upper
lower
upper
Leverage
1,100,000
103,357.40475
95,569.04740
111,145.76211
95,569.00308
111,145.80642
87871.105
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