Bicycling, the world's leading cycling magazine,reviews hundreds of bicycles throughout the year. Their \"Road-Race\"category contains reviews of bikes used by riders primarilyinterested in racing. One of the most important factors inselecting a bike for racing is the weight of the bike. Thefollowing data show the weight (pounds) and price ($) for 10 racingbikes reviewed by the magazine.â€
| Brand | Weight | Price ($) |
|---|
| FELT F5 | 17.8 | 2,100 |
| PINARELLO Paris | 16.1 | 6,250 |
| ORBEA Orca GDR | 14.9 | 8,370 |
| EDDY MERCKX EMX-7 | 15.9 | 6,200 |
| BH RC1 Ultegra | 17.2 | 4,000 |
| BH Ultralight 386 | 13.1 | 8,600 |
| CERVELO S5 Team | 16.2 | 6,000 |
| GIANT TCR Advanced 2 | 17.1 | 2,580 |
| WILIER TRIESTINA Gran Turismo | 17.6 | 3,400 |
| SPECIALIZED S-works Amira SL4 | 14.1 | 8,000 |
(a)
Use the data to develop an estimated regression equation thatcould be used to estimate the price for a bike given the weight.(Round your numerical values to the nearest integer).
Å· =
(b)
Compute
r2.
(Round your answer to three decimal places.)
r2
=
Did the estimated regression equation provide a good fit?
The estimated regression equation provided a good fit, sincer2 ≥ 0.55.The estimated regression equation didnot provide a good fit, since r2 <0.55.     The estimated regressionequation provided a good fit, since r2 <0.55.The estimated regression equation did not provide a good fit,since r2 ≥ 0.55.
(c)
Predict the price (in dollars) for a bike that weighs 13 pounds.(Round your answer to the nearest dollar.)
$
