(Solution) amoreresponsivedriv- l. SportycarsareA"*ign ing experience trtutt u tvpi"uf sedan' But' ** '*'*"Jr[ffi:";:;;ru*n,...

l.1.

 

SportycarsareA"*ign

 

amoreresponsivedriv-

 

ing experience

 

trtutt u tvpi"uf sedan'

 

But'

 

**

 

*ithi"

 

thit,t:i::l:::::":'^"::::*:triffi

 

'*'*"Jr[ffi::";:;;^;:;;ru*n,

 

n p"rtrprovided

 

road-test

 

scores and prices

 

for the rol-

 

lowing 12 sporty

 

"*,

 

(Con'o-"t Reports

 

website' October

 

2008)' Prices

 

are in thousands

 

ofdollarsandroad-test,""*,*"u^edonao-l00ratingscale,withhighervaluesindi-

 

cating better

 

Performance'

 

Car

 

Chevrolet Cobalt

 

SS

 

Dodge Caliber SRT4

 

FordMustang

 

GT (V8)

 

Honda Civic Si

 

MazdaRX'8

 

Mini Cooper

 

S

 

Mitsubishi Lancer Evolution

 

GSR

 

Nissatr Sertra SE*R SPec

 

V

 

SubumlmPrezaWRX

 

Suburu ImPrezaWRX

 

Sti

 

VolkswagenGTI

 

Volkswagen

 

R32

 

Prtce

 

($100tu)

 

24.5

 

24.9

 

29.4

 

2t.7

 

3t.3

 

26.4

 

38.1

 

23.3

 

25.2

 

'37.6

 

24.0

 

33.6

 

Road.TestScore

 

78

 

56

 

t3

 

?8

 

86

 

74

 

83

 

ffi

 

81

 

89

 

83

 

83

 

a.

 

Develop a scatter diagram with price

 

as the independent

 

variable'

 

b.

 

What does'tfr"

 

,"u,tJ' aiugru*'a"'"toped

 

in part

 

(a) indicate about the relationship

 

between

 

the two variables?

 

c.

 

Use the

 

t"urt rqo*"'*"thod

 

to develop

 

the estimated

 

regression

 

equati:n'

 

L!.

 

provide

 

an intemretatlon

 

for the slope of the

 

"[email protected]

 

e.

 

Another sporty car that consumer Reports tested is the

 

BMW 135i; the

 

price for this

 

car was $IO,ZOO.

 

Predict the road-test score

 

for the BMW 135i using

 

the estimated

 

regression equation developed in part (c).

 

21.

 

An important

 

applicauon

 

or regrtrlrwu

 

*'-':;;;l.,st

 

sluares method

 

to develop

 

an

 

By collecting

 

outu

 

oi*'oto*"

 

Ld

 

"ot'

 

and using

 

the least squares

 

me

 

estimated

 

regressron

 

equation

 

."lutirg

 

,olr*"-*f,

 

cost, an accountant

 

can estimate

 

the cost

 

associated

 

with

 

u

 

p*iloi*

 

^^*f"",*ing

 

,ofo*".

 

Consider

 

the following

 

sample

 

of pro-

 

duction

 

volumes

 

Jiot"r

 

cost data

 

for a manufacturing

 

operation'

 

lotal Cost

 

($)

 

4000

 

5000

 

5400

 

5900

 

5400

 

7000

 

Production

 

Volume

 

(units)

 

400

 

450

 

550

 

6m

 

700

 

?50

 

a.

 

b.

 

c.

 

d.

 

Use these data

 

to develop

 

an estimated

 

reglssion

 

equation

 

that could be used to

 

pr"ai",,t

 

"

 

total cost for

 

a given

 

production^volume'

 

iln

 

ut

 

i,

 

the variable

 

cost

 

per unit produced?-

 

-

 

compute

 

the coefficient

 

5i u",*i"r"*or.

 

wtrut

 

percentage

 

of the variation

 

in total

 

.." I*

 

O" explained

 

by

 

production

 

volume?

 

The companv',

 

p.ooo"u#]|ffi;

 

il;;500

 

units must be produced next month'

 

pJ"t

 

tft" totaliost

 

for this operation'

 

---

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