The number of megapixels in a digital camera is one of the most important factor
ID: 3224165 • Letter: T
Question
The number of megapixels in a digital camera is one of the most important factors in determining picture quality. But, do digital cameras with more megapixels cost more? The following data show the number of megapixels and the price ($) for 10 digital cameras (Consumer Reports, March 2009).
Click on the webfile logo to reference the data. ( please show step by step solution)
Enter negative values as negative numbers.
a. Use these data to develop an estimated regression equation that can be used to predict the price of a digital camera given the number of megapixels.
= (to 4 decimals) + x (to 5 decimals)
b. At .05 level of significance, are the number of megapixels and the price related?
- Select your answer -YesNoItem 3
Explain.
The input in the box below will not be graded, but may be reviewed and considered by your instructor.
c. Would you feel comfortable using the estimated regression equation developed in part (a) to predict the price of a digital camera given the number of megapixels?
- Select your answer -YesNoItem 5
Explain.
The input in the box below will not be graded, but may be reviewed and considered by your instructor.
d. The Kodak EasyShare Z1012 IS digital camera has 10 megapixels. Predict the price of this camera using the estimated regression equation developed in part (a).
$ Round your answer to nearest whole value.
The number of megapixels in a digital camera is one of the most important factors in determining picture quality. But, do digital cameras with more megapixels cost more? The following data show the number of megapixels and the price ($) for 10 digital cameras (Consumer Reports, March 2009).
Click on the webfile logo to reference the data. ( please show step by step solution)
Enter negative values as negative numbers.
a. Use these data to develop an estimated regression equation that can be used to predict the price of a digital camera given the number of megapixels.
= (to 4 decimals) + x (to 5 decimals)
b. At .05 level of significance, are the number of megapixels and the price related?
- Select your answer -YesNoItem 3
Explain.
The input in the box below will not be graded, but may be reviewed and considered by your instructor.
c. Would you feel comfortable using the estimated regression equation developed in part (a) to predict the price of a digital camera given the number of megapixels?
- Select your answer -YesNoItem 5
Explain.
The input in the box below will not be graded, but may be reviewed and considered by your instructor.
d. The Kodak EasyShare Z1012 IS digital camera has 10 megapixels. Predict the price of this camera using the estimated regression equation developed in part (a).
$ Round your answer to nearest whole value.
Explanation / Answer
Sol:
Performed regression in excel
x----megapixels
y---price
price=-145.0270+megapixels(38.31858)
Solutionb:
yes related
correlation coefficient=0.8945
there exists strong relationship between price and megapixels
Solutionc:
yes
since coefficient of determination is 0.800
80% variation in price is explained by model ,model is good
'Solutiond:
here x=10
substitute in regeession eq to get the price
price=-145.0270+megapixels(38.31858)
=145.0270+10(38.31858)
=238.15
=238
SUMMARY OUTPUT Regression Statistics Multiple R 0.894469 R Square 0.800075 Adjusted R Square 0.775084 Standard Error 50.90465 Observations 10 ANOVA df SS MS F Significance F Regression 1 82959.73 82959.73 32.01492 0.000477 Residual 8 20730.27 2591.283 Total 9 103690 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept -145.027 66.31969 -2.18678 0.060223 -297.96 7.906942 megapixels 38.31858 6.772254 5.658173 0.000477 22.70174 53.93543Related Questions
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