Provide an interpretation for the slope of the estimated regression equation. 1 answer below »

Provide an interpretation for the slope of the estimated regression equation. 1 answer below »

Sporty cars are designed to provide better handling, acceleration, and a more responsive drivingexperience than a typical sedan. But, even within this select group of cars, performanceas well as price can vary. Consumer Reports provided road-test scores and prices for the following12 sporty cars (Consumer Reports website, October 2008). Prices are in thousandsof dollars and road-test scores are based on a 0–100 rating scale, with higher values indicatingbetter performance.Car Price ($1000s) Road-Test ScoreChevrolet Cobalt SS 24.5 78Dodge Caliber SRT4 24.9 56Ford Mustang GT (V8) 29.0 73Honda Civic Si 21.7 78Mazda RX-8 31.3 86Mini Cooper S 26.4 74Mitsubishi Lancer Evolution GSR 38.1 83Nissan Sentra SE-R Spec V 23.3 66Suburu Impreza WRX 25.2 81Suburu Impreza WRX Sti 37.6 89Volkswagen GTI 24.0 83Volkswagen R32 33.6 83a. Develop a scatter diagram with price as the independent variable.b. What does the scatter diagram developed in part (a) indicate about the relationshipbetween the two variables?c. Use the least squares method to develop the estimated regression equation.d. Provide an interpretation for the slope of the estimated regression equation.e. Another sporty car that Consumer Reports tested is the BMW 135i; the price for thiscar was $36,700. Predict the road-test score for the BMW 135i using the estimatedregression equation developed in part (c).

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