A consumer organization wants to develop a regression model to predict mileage (as measured by miles per gallon) based on the horsepower of the car's engine and the weight of the car (in pounds). Date were collected from a sample of 50 recent car models, and the results are organized and stored in Auto.
a. State the multiple regression equation.
b. Interpret the meaning of the slopes b1 and b2, in this problem.
c. Explain why the regression coefficient b0 has no practical meaning in the context of this problem.
d. Predict the miles per gallon for cars that have 60 horsepower and weight 2,000 pounds.
e. Construct a 95% confidence interval estimate for the mean miles per gallon for cars that have 60% horsepower and weight 2,000 pounds.
f. Construct a 95% prediction interval for the miles per gallon for an individual car that has 60 horsepower and weighs 2,000 pounds.
This solution is comprised of a detailed explanation of various aspects of Regression Analysis as it pertains to the given problem. Supplemented with EXCEL output and more than 200 words of text, this step-by-step explanation of this complicated topic provides students with a clear perspective of Regression Analysis.