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Author Question: Retail price data for n = 60 hard disk drives were recently reported in a computer magazine. Three ... (Read 93 times)

arivle123

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on: Feb 14, 2020
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:


Parameter Estimates



Identify and interpret the estimate for the SPEED β-coefficient,  1.
◦ 1 = 3.57; For every $1 increase in PRICE, we estimate SPPED to increase by about 4 megahertz, holding CHIP fixed.
◦ 1 = 3.57; For every 1-megahertz increase in SPEED, we estimate PRICE to increase $3,57, holding CHIP fixed.
◦ 1 = 105; For every $1 increase in PRICE, we estimate SPEED to increase 105 megahertz, holding CHIP fixed.
◦ 1 = 105; For every 1-megahertz increase in SPEED, we estimate PRICE (y) to increase $105, holding CHIP fixed.
Statistics ¦ McClave, Sincich, Tamarack ¦ 12th Edition
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Marked as best answer by arivle123 on Feb 14, 2020

choc0chan

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Reply #1 on: Feb 14, 2020
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arivle123

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Reply 2 on: Feb 14, 2020
YES! Correct, THANKS for helping me on my review

softEldritch

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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