Retail price data for n= 60 hard disk drives were recently reported in a computer magazine. Three variables were recorded for each hard disk drive: y = Retail PRICE (measured in dollars) x1 = Microprocessor SPEED (measured in megahertz) (Values in sample range from 10 to 40) x2 = CHIP size (measured in computer processing units) (Values in sample range from 286 to 486) A first-order regression model was fit to the data. Part of the printout follows: Analysis of Variance SOURCE DF MS F VALUE PROB>F MODEL 2 34593103.008 17296051.504 19.018 0.0001 ERROR 57 51840202.926 909477.24431 C TOTAL 59 86432305.933 ROOT MSE DEP MEAN C.V. 953.66516 3197.96667 0.4002 0.3792 R-SQUARE ADJ R-SQ 29.82099 Test to determine if the model is adequate for predicting the price of a computer. Use a = .01.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
icon
Concept explainers
Question
Retail price data for n = 60 hard disk drives were recently reported in a computer magazine. Three variables were recorded for each hard disk drive:
y = Retail PRICE (measured in dollars)
x1= Microprocessor SPEED (measured in megahertz)
(Values in sample range from 10 to 40)
x2 = CHIP size (measured in computer processing units)
(Values in sample range from 286 to 486)
A first-order regression model was fit to the data. Part of the printout follows:
Analysis of Variance
SOURCE
DF
MS
F VALUE
PROB>F
MODEL
2
34593103.008
17296051,504
19.018
0.0001
ERROR
57
51840202.926
909477.24431
C TOTAL
59
86432305.933
ROOT MSE
953.66516
3197.96667
R-SQUARE
0.4002
0.3792
DEP MEAN
CV.
ADJ R-SQ
29.82099
Test to determine if the model is adequate for predicting the price of a computer. Use a = .01.
Transcribed Image Text:Retail price data for n = 60 hard disk drives were recently reported in a computer magazine. Three variables were recorded for each hard disk drive: y = Retail PRICE (measured in dollars) x1= Microprocessor SPEED (measured in megahertz) (Values in sample range from 10 to 40) x2 = CHIP size (measured in computer processing units) (Values in sample range from 286 to 486) A first-order regression model was fit to the data. Part of the printout follows: Analysis of Variance SOURCE DF MS F VALUE PROB>F MODEL 2 34593103.008 17296051,504 19.018 0.0001 ERROR 57 51840202.926 909477.24431 C TOTAL 59 86432305.933 ROOT MSE 953.66516 3197.96667 R-SQUARE 0.4002 0.3792 DEP MEAN CV. ADJ R-SQ 29.82099 Test to determine if the model is adequate for predicting the price of a computer. Use a = .01.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Correlation, Regression, and Association
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman