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    Linear Regression: Developing Equations

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    Please help with the following problem.

    The following data shows the retail price for 12 randomly selected laptop computers along with their
    corresponding processor speeds.

    computers speed price $
    1 2 2,689
    2 1.6 1,229
    3 1.6 1,419
    4 1.8 2,589
    5 2 2,849
    6 1.2 1,349
    7 2 2,929
    8 1.6 1,849
    9 2 2,819
    10 1.6 2,669
    11 1 1,249
    12 1.4 1,159

    a. Develop a linear equation that can be used to describe how the price depends on the
    processor speed.
    b. Based on your regression equation, is there one machine that seems particularly over- or
    underpriced?
    c. Compute the correlation coefficient between the two variables. At the .05 significance
    level conduct a test of hypothesis to determine if the population correlation could be
    greater than zero.
    d. Draw a box plot reflecting how the price depends on the processor speed.

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    Solution Summary

    The following posting helps with a problem about linear regression. This solution develops a linear regression equation to describe price given a processor speed and computes the correlation coefficient

    $2.49

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