Answer Happy

10.1 and 10.2 The following table provides information on prices of digital cameras and number of megapixels of the cameras. Regression analysis is conducted to predict price (Y) of the digital camera based on the megapixels (X). : | 130 | 200 | 230 | 120 | 47 | 140 | 130 | 120 | 250 | 110 X 7 Initially, the following scatter diagram obtained from StatCrunch. Options Price 400 300 200 100+ 10 Megapixels (a). (2 pts) What does the scatter diagram indicate about the association between the two variables (positive/negative)?

To approximate the linear association between Price and Megapixels, the following output was obtained from StatCrunch using simple linear regression analysis. Simple linear regression results: Dependent Variable: y Independent Variable: x y = -145.02655 + 38.318584 x Sample size: 10 R (correlation coefficient) = 0.89446889 R-sq = 0.80007459 Estimate of error standard deviation: 50.904648 Parameter estimates: Parameter Estimate Std. Err. Alternative DF T-Stat P-value Intercept -145.02655 66.319695 +08-2.1867795 0.0602 Slope 38.318584 6.7722536 70 8 5.6581732 0.0005 MS Analysis of variance table for regression model: Source DF SS F-stat P-value Model 1 82959.735 82959.735 32.014924 0.0005 Error 8 20730.265 2591.2832 Total 9 103690 (6) Based on the above output, is there a significant linear association between Price' and ‘Megapixels"? Namely, test Ho: B1 = 0 vs. H: B1 = 0 (2 pts) At a = 0.05 level significance, state the general decision rule based on the P-value approach (*) (2 pts) Identify the P-value from the output and state conclusion. (1) (2 pts) Write the conclusion in plain English in the context of the problem (6) (4 pts) Write estimated regression equation. (3 pts) Predict the expected price of a digital camera when the mumber of megapixels is 9.