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Consumer Reports provided extensive testing and ratings for more than 100 HDTVs. An overall score, based primarily on picture quality, was developed for each model. In general, a higher overall score indicates better performance. The following (hypothetical) data show the price and overall score for the ten 42-inch plasma televisions (Consumer Report data slightly changed here):
Brand
Price
Score
Dell
2800
60
Hisense
55
Hitachi
2700
45
JVC
3500
50
LG
3300
Maxent
2000
38
Panasonic
4000
67
Phillips
3000
56
Proview
2500
32
Samsung
40
Use the above data to develop and estimated regression equation. Compute Coefficient of Determination and correlation coefficient and show their relation. Interpret the explanatory power of the model. Estimate the overall score for a 42-inch plasma television with a price of $3800.
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