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Stat homework

Stat homework

Description

In a study of inkjet printers, a random sample of 30 printers were selected from a supplier and their printing rates (in pages per minute) and retail prices (in dollars) were recorded in file Printer_data.xlsx

a. Fit a simple linear regression model with printer price as the response variable and printing rate as the predictor variable

b. Interpret the estimated intercept and slope

c. Are the intercept and slope significant?

d. Use the fitted regression model to estimate the mean price of a printer with a printing rate of 2.5 pages per minute

e. What percentage of the variation in the printer price is explained by the regression on the printing rate?