Bicycling, the world's leading cycling magazine, reviews hundreds of bicycles throughout the year. Their "Road-Race" category contains reviews of bikes used by riders primarily interested in racing....

Extracted text: Bicycling, the world's leading cycling magazine, reviews hundreds of bicycles throughout the year. Their "Road-Race" category contains reviews of bikes used by riders primarily interested in racing. One of the most important factors in selecting a bike for racing is the weight of the bike. The following data show the weight (pounds) and price ($) for 10 racing bikes reviewed by the magazine.t Brand Weight Price ($) FELT F5 17.8 2,100 PINARELLO Paris 16.1 6,250 ORBEA Orca GDR 14.9 8,370 EDDY MERCKX EMX-7 15.9 6,200 BH RC1 Ultegra 17.2 4,000 BH Ultralight 386 13.1 8,600 CERVELO S5 Team 16.2 6,000 GIANT TCR Advanced 2 17.1 2,580 WILIER TRIESTINA Gran Turismo 17.6 3,400 SPECIALIZED S-works Amira SL4 14.1 8,000 (a) Use the data to develop an estimated regression equation that could be used to estimate the price for a bike given the weight. (Round your numerical values to the nearest integer). (b) Compute 2. (Round your answer to three decimal places.) 2 =| Did the estimated regression equation provide a good fit? O The estimated regression equation provided a good fit, since r? < 0.55.="" o="" the="" estimated="" regression="" equation="" did="" not="" provide="" a="" good="" fit,="" since="" r2="">< 0.55.="" o="" the="" estimated="" regression="" equation="" provided="" a="" good="" fit,="" since="" r="" 2="" 0.55.="" o="" the="" estimated="" regression="" eguation="" did="" not="" provide="" a="" good="" fit,="" since="" r2="" 2="" 0.55.="" (c)="" predict="" the="" price="" (in="" dollars)="" for="" a="" bike="" that="" weighs="" 13="" pounds.="" (round="" your="" answer="" to="" the="" nearest="" dollar.)="">