The Tire Rack, America's leading online distributor of tires and wheels, conducts extensive testing to provide customers with products that are right for their vehicle, driving style, and driving conditions. In addition, the Tire Rack maintains an independent consumer survey to help drivers help each other by sharing their long-term tire experiences. The following data show survey ratings (1 to 10 scale with 10 the highest rating) for 18 maximum performance summer tires (Tire Rack website, February 3, 2009). The variable Steering rates the tire's steering responsiveness, Tread Wear rates quickness of wear based on the driver's expectations, and Buy Again rates the driver's overall tire satisfaction and desire to purchase the same tire again. Click on the datafile logo to reference the data. DATA file Tread Wear Dry Traction Steering Again? Buy Tire 8.6 8.0 7.5 7.2 Sumitomo HTR A/S P02 9.0 8.5 9.3 Goodyear Eagle Sport All-Season Michelin Pilot Sport A/S 3 Kumho Ecsta PÁ31 8.5 7.3 7.2 7.4 7.1 6.4 6.6 7.1 8.8 8.9 7.9 7.1 8.3 8.4 7.9 7.9 7.9 7.5 7.0 7.0 6.5 7.6 6.3 6.9 9.2 8.4 7.6 8.7 8.7 6.4 Firestone Firchawk Wide Oval AS BFGoodrich g-Force Super Sport A/S Yokohama AVID ENVigor Goodyear Eagle RS-A2 Hankook Ventus V2 concept2 Firestone Firehawk GT Firestone FR740 5.8 6.5 5.8 5.4 5.2 8.4 8.0 6.1 5.1 5.0 5.6 5.7 4.4 5.4 3.8 8.2 7.8 7.6 7.4 7.1 8.0 6.9 7.9 4.4 3.2 3.0 3.6 Dunlop SP Sport 7000 A/S Goodyear Eagle RSs-A Bridgestone Potenza RE92A Yokohama ADVAN A83A Bridgestone Potenza RE92 Firestone Firehawk GTA-03 2.6 1.0 2.5 2.0 Round your answers to four decimal places. a. Develop an estimated regression equation that can be used to predict the Buy Again rating given based on the Tread Wear rating. Tread Wear At the .01 level of significance, test for a significant relationship.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Transcribed Image Text:The Tire Rack, America's leading online distributor of tires and wheels, conducts extensive testing to provide customers with products that are right for their vehicle, driving style, and driving conditions. In addition, the Tire Rack maintains an independent consumer survey to help drivers help each other by sharing their long-term tire experiences. The following data show survey ratings (1 to 10 scale with 10 the highest rating) for 18 maximum performance summer tires (Tire Rack website, February 3, 2009). The variable Steering rates the tire's steering responsiveness, Tread Wear rates quickness of wear based on the driver's expectations, and Buy Again rates the driver's overall tire satisfaction and desire to purchase the same tire again. Click on the datafile logo to reference the data. DATA file Tread Wear Dry Traction Steering Again? Buy Tire Sumitomo HTR A/S PO2 Goodyear Eagle Sport All-Season Michelin Pilot Sport A/S 3 Kumho Ecsta PA31 8.6 8.5 7.3 7.2 9.0 9.3 9.2 8.5 8.8 8.9 7.9 8.0 7.5 7.2 6.4 8.4 Firestone Firchawk Wide Oval AS 7.4 7.6 7.1 5.8 BFGoodrich g-Force Super Sport A/S Yokohama AVID ENVigor Goodyear Eagle RS-A2 Hankook Ventus V2 concept2 7.1 8.7 8.7 8.4 8.0 8.2 7.8 8.3 8.4 7.9 7.9 7.9 7.5 6.5 5.8 5.4 5.2 4.4 3.2 3.0 3.6 2.6 6.4 6.6 7.1 6.1 Firestone Firehawk GT Firestone FR740 5.1 Dunlop SP Sport 7000 A/S Goodycar Eagle RS-A Bridgestone Potenza RE92A Yokohama ADVAN A83A Bridgestone Potenza RE92 Firestone Firehawk GTA-03 5.0 5.6 5.7 7.6 7.4 7.1 7.0 7.0 6.5 7.6 6.3 6.9 4.4 8.0 1.0 5.4 3.8 6.9 7.9 2.5 2.0 Round your answers to four decimal places. a. Develop an estimated regression equation that can be used to predict the Buy Again rating given based on the Tread Wear rating. X Tread Wear At the .01 level of significance, test for a significant relationship.

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