Would you expect more reliable cars to cost more?Consumer Reportsrated 15 upscale sedans. Reliability was rated on a 5-point scale: poor (1), fair (2), good (3), very good (4), and excellent (5). The price and reliability rating for each of the 15 cars are shown (Consumer Reports,February 2004). Make and Model Reliability Price ($) Acura TL 4 33,150 BMW 330i 3 40,570 Lexus IS300 5 35,105 Lexus ES330 5 35,174 Mercedes-Benz C320 1 42,230 Lincoln LS Premium (V6) 3 38,225 Audi A4 3.0 Quattro 2 37,605 Cadillac CTS 1 37,695 Nissan Maxima 3.5 SE 4 34,390 Infiniti I35 5 33,845 Saab 9-3 Aero 3 36,910 Infiniti G35 4 34,695 Jaguar X-Type 3.0 1 37,995 Saab 9-5 Arc 3 36,955 Volvo S60 2.5T 3 33,890 a. Develop a scatter diagram for these data with the reliability rating as the independent variable.b. Develop the least squares estimated regression equation.c. Based upon your analysis, do you think more reliable cars cost more? Explain.d. Estimate the price for an upscale sedan that has a good reliability rating.

Would you expect more reliable cars to cost more? Consumer Reports rated 15 upscale sedans. Reliability was rated on a 5-point scale: poor (1), fair (2), good (3), very good (4), and excellent (5)....

Would you expect more reliable cars to cost more?Consumer Reportsrated 15 upscale sedans. Reliability was rated on a 5-point scale: poor (1), fair (2), good (3), very good (4), and excellent (5). The price and reliability rating for each of the 15 cars are shown (Consumer Reports,February 2004).

Make and Model	Reliability	Price ($)
Acura TL	4	33,150
BMW 330i	3	40,570
Lexus IS300	5	35,105
Lexus ES330	5	35,174
Mercedes-Benz C320	1	42,230
Lincoln LS Premium (V6)	3	38,225
Audi A4 3.0 Quattro	2	37,605
Cadillac CTS	1	37,695
Nissan Maxima 3.5 SE	4	34,390
Infiniti I35	5	33,845
Saab 9-3 Aero	3	36,910
Infiniti G35	4	34,695
Jaguar X-Type 3.0	1	37,995
Saab 9-5 Arc	3	36,955
Volvo S60 2.5T	3	33,890

a. Develop a scatter diagram for these data with the reliability rating as the independent variable.

b. Develop the least squares estimated regression equation.

c. Based upon your analysis, do you think more reliable cars cost more? Explain.

d. Estimate the price for an upscale sedan that has a good reliability rating.

May 25, 2022

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Would you expect more reliable cars to cost more? Consumer Reports rated 15 upscale sedans. Reliability was rated on a 5-point scale: poor (1), fair (2), good (3), very good (4), and excellent (5)....

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