Question

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 data is provided in BicycleWeights.xlsx. Use the data to develop an estimated regression equation that could be used to estimate the price of a bike given the weight.

Develop the 99% confidence interval for the slope coefficient. Provide the upper bound of the interval.

Brand	Weight	Price
FELT F5	17.8	3200
PINARELLO Paris	16.1	6250
ORBEA Orca GDR	14.9	9540
EDDY MERCKX EMX-7	15.9	6200
BH RC1 Ultegra	17.2	4000
BH Ultralight 386	13.1	8600
CERVELO S5 Team	16.2	6000
GIANT TCR Advanced 2	17.1	2580
WILIER TRIESTINA Gran Turismo	17.6	3400
SPECIALIZED S-Works Amira SL4	14.1	8000

Answer 1

Solution:

Given

Brand	Weight	Price
FELT F5	17.8	3200
PINARELLO Paris	16.1	6250
ORBEA Orca GDR	14.9	9540
EDDY MERCKX EMX-7	15.9	6200
BH RC1 Ultegra	17.2	4000
BH Ultralight 386	13.1	8600
CERVELO S5 Team	16.2	6000
GIANT TCR Advanced 2	17.1	2580
WILIER TRIESTINA Gran Turismo	17.6	3400
SPECIALIZED S-Works Amira SL4	14.1	8000

Upper bound of 99% confidence interval = - 596.632

Please give upvote.

Thank you.