A personal watercraft (PWC) is a vessel propelled by water jets, designed to be operatedby a person sitting, standing, or kneeling on the vessel. In the early 1970s, KawasakiMotors Corp. U.S.A. introduced the JET SKI?« watercraft, the first commercially successfulPWC. Today, jet ski is commonly used as a generic term for personal watercraft. Thefollowing data show the weight (rounded to the nearest 10 lbs.) and the price (rounded tothe nearest $50) for 10 three-seater personal watercraft (Jetski News website, 2006).Make and Model Weight (lbs.) Price ($)Honda AquaTrax F-12 750 9500Honda AquaTrax F-12X 790 10500Honda AquaTrax F-12X GPScape 800 11200Kawasaki STX-12F Jetski 740 8500Yamaha FX Cruiser Waverunner 830 10000Yamaha FX High Output Waverunner 770 10000Yamaha FX Waverunner 830 9300Yamaha VX110 Deluxe Waverunner 720 7700Yamaha VX110 Sport Waverunner 720 7000Yamaha XLT1200 Waverunner 780 8500a. Develop a scatter diagram for these data with weight as the independent variable.b. What does the scatter diagram developed in part (a) indicate about the relationshipbetween weight and price?c. Use the least squares method to develop the estimated regression equation.d. Predict the price for a three-seater PWC with a weight of 750 pounds.e. The Honda AquaTrax F-12 weighs 750 pounds and has a price of $9500. Shouldntthe predicted price you developed in part (d) for a PWC with a weight of 750 poundsalso be $9500?f. The Kawasaki SX-R 800 Jetski has a seating capacity of one and weighs 350 pounds.Do you think the estimated regression equation developed in part (c) should be usedto predict the price for this model?
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