Bicycling World, a magazine devoted to cycling, reviews hundreds of bicycles throughout the year. Its "Road-Race" category contains reviews of bicycles used by riders primarily interested in racing. One of the most important factors in selecting a bicycle for racing is the weight of the bicycle. The following data show the weight (pounds) and price ($) for ten racing bicycles reviewed by the magazine. Click on the datafile logo to reference the data. Model Weight (lb) Price ($) Fierro 7B 17.9 2,200 HX 5000 16.2 6,350 Durbin Ultralight 15.0 8,470 Schmidt 16.0 6,300 WSilton Advanced 17.3 4,100 Bicyclette vélo 13.2 8,700 Supremo Team 16.3 6,100 XTC Racer 17.2 2,680 D'Onofrio Pro 17.7 3,500 Americana #6 14.2 8,100 How much of the variation in the prices of the bicycles in the sample does the regression model you estimated in part (b) explain? If required, round your answer to the nearest whole number. Do not round intermediate calculations.
Compound Probability
Compound probability can be defined as the probability of the two events which are independent. It can be defined as the multiplication of the probability of two events that are not dependent.
Tree diagram
Probability theory is a branch of mathematics that deals with the subject of probability. Although there are many different concepts of probability, probability theory expresses the definition mathematically through a series of axioms. Usually, these axioms express probability in terms of a probability space, which assigns a measure with values ranging from 0 to 1 to a set of outcomes known as the sample space. An event is a subset of these outcomes that is described.
Conditional Probability
By definition, the term probability is expressed as a part of mathematics where the chance of an event that may either occur or not is evaluated and expressed in numerical terms. The range of the value within which probability can be expressed is between 0 and 1. The higher the chance of an event occurring, the closer is its value to be 1. If the probability of an event is 1, it means that the event will happen under all considered circumstances. Similarly, if the probability is exactly 0, then no matter the situation, the event will never occur.
Bicycling World, a magazine devoted to cycling, reviews hundreds of bicycles throughout the year. Its "Road-Race" category contains reviews of bicycles used by riders primarily interested in racing. One of the most important factors in selecting a bicycle for racing is the weight of the bicycle. The following data show the weight (pounds) and price ($) for ten racing bicycles reviewed by the magazine.
Click on the datafile logo to reference the data.
| Model | Weight (lb) | Price ($) |
| Fierro 7B | 17.9 | 2,200 |
| HX 5000 | 16.2 | 6,350 |
| Durbin Ultralight | 15.0 | 8,470 |
| Schmidt | 16.0 | 6,300 |
| WSilton Advanced | 17.3 | 4,100 |
| Bicyclette vélo | 13.2 | 8,700 |
| Supremo Team | 16.3 | 6,100 |
| XTC Racer | 17.2 | 2,680 |
| D'Onofrio Pro | 17.7 | 3,500 |
| Americana #6 | 14.2 | 8,100 |
How much of the variation in the prices of the bicycles in the sample does the regression model you estimated in part (b) explain? If required, round your answer to the nearest whole number. Do not round intermediate calculations.
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