Consumer Reports provided extensive testing and ratings for 24 treadmills. An overallscore, based primarily on ease of use, ergonomics, exercise range, and quality, was developedfor each treadmill...

Consumer Reports provided extensive testing and ratings for 24 treadmills. An overallscore, based primarily on ease of use, ergonomics, exercise range, and quality, was developedfor each treadmill tested. In general, a higher overall score indicates better performance.The following data show the price, the quality rating, and overall score for the 24treadmills (Consumer Reports, February 2006).Brand & Model Price Quality ScoreLandice L7 2900 Excellent 86NordicTrack S3000 3500 Very good 85SportsArt 3110 2900 Excellent 82Precor 3500 Excellent 81True Z4 HRC 2300 Excellent 81Vision Fitness T9500 2000 Excellent 81Precor M 9.31 3000 Excellent 79Vision Fitness T9200 1300 Very good 78Star Trac TR901 3200 Very good 72Trimline T350HR 1600 Very good 72Schwinn 820p 1300 Very good 69Bowflex 7-Series 1500 Excellent 83NordicTrack S1900 2600 Very good 83Horizon Fitness PST8 1600 Very good 82Horizon Fitness 5.2T 1800 Very good 80Evo by Smooth Fitness FX30 1700 Very good 75ProForm 1000S 1600 Very good 75Horizon Fitness CST4.5 1000 Very good 74Brand & Model Price Quality ScoreKeys Fitness 320t 1200 Very good 73Smooth Fitness 7.1HR Pro 1600 Very good 73NordicTrack C2300 1000 Good 70Spirit Inspire 1400 Very good 70ProForm 750 1000 Good 67Image 19.0 R 600 Good 66a. Use these data to develop an estimated regression equation that could be used to estimatethe overall score given the price.b. Use a  .05 to test for overall significance.c. To incorporate the effect of quality, a categorical variable with three levels, we used twodummy variables: Quality-E and Quality-VG. Each variable was coded 0 or 1 as follows.Quality-E  1 if quality rating is excellent 0 otherwiseQuality-VG  1 if quality rating is very good Develop an estimated regression equation that could be used to estimate the overallscore given the price and the quality rating.d. For the estimated regression equation developed in part (c), test for overall significanceusing a  .10.e. For the estimated regression equation developed in part (c), use the t test to determinethe significance of each independent variable. Use a  .10.f. Develop a standardized residual plot. Does the pattern of the residual plot appear tobe reasonable?g. Do the data contain any outliers or influential observations?h. Estimate the overall score for a treadmill with a price of $2000 and a good quality rating.How much would the estimate change if the quality rating were very good? Explain.0 otherwise