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Outside Magazine tested 10 different models of day hikers and backpacking boots. The following data show the upper support and price for each model tested. Upper support was measured using a rating from 1 to 5, with a rating of 1 denoting average upper support and rating of 5 denoting excellent upper support (Outside Magazine Buyer's Guide, 2001).

(see attached file for chart)

a. Use these data to develop an estimated regression equation to estimate the price of a day hiker and backpacking boot given the upper support rating.
b. At the .05 level of significance, determine whether upper support and price are related.

c. Would you feel comfortable using the estimated regression equation developed in part (a) to estimate the price for a day hiker or backpacking boot given the upper support rating?

d. Estimate the price for a day hiker with an upper support rating of 4.

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Solution Summary

This solution is comprised of a detailed explanation to use these data to develop an estimated regression equation to estimate the price of a day hiker and backpacking boot given the upper support rating.

Solution provided by:
Changping Wang, MA
Education
  • BSc , Wuhan Univ. China
  • MA, Shandong Univ.
Recent Feedback
  • "Your solution, looks excellent. I recognize things from previous chapters. I have seen the standard deviation formula you used to get 5.154. I do understand the Central Limit Theorem needs the sample size (n) to be greater than 30, we have 100. I do understand the sample mean(s) of the population will follow a normal distribution, and that CLT states the sample mean of population is the population (mean), we have 143.74. But when and WHY do we use the standard deviation formula where you got 5.154. WHEN & Why use standard deviation of the sample mean. I don't understand, why don't we simply use the "100" I understand that standard deviation is the square root of variance. I do understand that the variance is the square of the differences of each sample data value minus the mean. But somehow, why not use 100, why use standard deviation of sample mean? Please help explain."
  • "excellent work"
  • "Thank you so much for all of your help!!! I will be posting another assignment. Please let me know (once posted), if the credits I'm offering is enough or you ! Thanks again!"
  • "Thank you"
  • "Thank you very much for your valuable time and assistance!"
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