Consumer Reports provided extensive testing and ratings for 24 treadmills. An overall score, based on price and quality was developed for each treadmill tested. In general, a higher overall score indicates better performance. The following data show the regression out put of the 24 treadmills (Consumer Reports, February 2006).a. Develop an estimated regression equation that could be used to estimate the overall score given the price and each of the quality rating b. Develop regression equation for each category of quality c) Test for overall significance using α = 0.10. d) Estimate the overall score for a treadmill with a price of $2000 and a good quality rating. How much would the estimate change if the quality rating were very good? Explain. Variables Entered/Removed"VariablesVariablesModelEnteredRemovedMethodExecellent,Good, PriceEntera. Dependent Variable: Scoreb. Tolerance = ,000 limits reached.ANOVASum ofModelSquaresdfMean SquareFSignificanceRegression566,6033188,86812,819000Residual309,3972114,733Total876,00024a. Dependent Variable: Scoreb. Predictors: (constant) Execellent, Good, Price…CoefficientsStandardizedUnstandardized CoefficientsCoefficientsModelBStd. ErrorBetaSignificance(Constant)71,6002,40529,776Price,0020013331,925068Good-5,7532,478-,356-2,322030Execellent4,2922,0033262,143044a. Dependent Variable: ScoreExcluded VariablesCollinearityPartialStatisticsModelBeta InSignificanceCorrelationTolerance1Very_Good000a. Dependent Variable: Scoreb. Predictors in the Model: (const) Execellent, Good, Price..
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