Wine Influential wine critics such as Robert Parker publish their personal ratings of wines, and many consumers pay close attention. Do these ratings affect the price? The data in this exercise are a sample of ratings and prices found online at the Web site of an Internet wine merchant.
(a) Does the scatterplot of the price of wine on the rating suggest a linear or nonlinear relationship?
(b) Fit a linear regression equation to the data, regressing price on the rating. Does this fitted model make substantive sense?
(c) Create a scatterplot for the log of the price on the rating. Does the relationship seem more suited to regression?
(d) Fit a regression of the log of price on the rating. Does this model provide a better description of the pattern in the data?
(e) Compare the fit of the two models to the data. Can you rely on summary statistics like and ?
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.Read more
Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.Read more
Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.Read more
Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.Read more
By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.Read more