The number of megapixels in a digital camera is one of the most important factor

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 folowng data show the number of megapixels and the price for 10 digital cameras.

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.

b. At the .05 level of significance, are the number of megapixels and the price related? Explain.

c. Would you feel comfortable using the estimated regression equation developed in part "a" to predict the price of a digital camera given the numbe rof megapixels? Explain.

d. The Canon Power Shot S95 digital camera has 10 megapixels. Predict the price of this camera using the estimate regression equation developed in part "a".

Brand and Model Megapixels Price ($) Canon PowerShot SD1100 IS 8 180 Casio Exilim Card EX-510 10 200 Sony Cyber-shot DSC-T70 7 230 Pentax Optio M50 8 120 Canon PowerShot G10 15 470 Canon PowerShot A590 IS 8 140 Canon PowerShot E1 10 180 Fujifilm FinePix F00FD 12 310 Sony Cyber-shot DSC-W170 10 250 Canon PowerShot A470 7 110

Explanation / Answer

from the regression analysis,

a) the regression equation is Price (Y) = -145.027 + 38.31858*megapixel(X)

b) at 0.05 level of significance, the number of mega pixel and the price are not related. because p-value is 0.06> 0.05

c) as the p-value 0.06 indicates at 0.05 level of significance that there is no relation between megapixel and price I would not use this model

d) The price of the Canon Power Shot S95 digital camera has 10 megapixels is

Y = -145.027+ 38.31858*10 = $238.1588

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% Lower 95.0% Upper 95.0% Intercept -145.027 66.31969 -2.18678 0.060223 -297.96 7.906942 -297.96 7.906942 Megapixels 38.31858 6.772254 5.658173 0.000477 22.70174 53.93543 22.70174 53.93543

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.