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Develop and estimated regression equation

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Reference no: EM131281127

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

2800

55

Hitachi

2700

45

JVC

3500

50

LG

3300

55

Maxent

2000

38

Panasonic

4000

67

Phillips

3000

56

Proview

2500

32

Samsung

3000

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.

Reference no: EM131281127

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