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Retail Price Data for N = 60 Hard Disk Drives

Question 28

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Retail price data for n = 60 hard disk drives were recently reported in a computer magazine. Three variables were recorded for each hard disk drive:
y= Retail PRICE (measured in dollars) x1= Microprocessor SPEED (measured in megahertz)  (Values in sample range from 10 to 40 ) x2= CHIP size (measured in computer processing units)  (Values in sample range from 286 to 486 ) \begin{aligned} y = & \text { Retail PRICE (measured in dollars) } \\ x _ { 1 } = & \text { Microprocessor SPEED (measured in megahertz) } \\ & \text { (Values in sample range from } 10 \text { to } 40 \text { ) } \\ x _ { 2 } = & \text { CHIP size (measured in computer processing units) } \\ & \text { (Values in sample range from } 286 \text { to } 486 \text { ) } \end{aligned}
A first-order regression model. was fit to the data. Part of the printout follows:
\quad \quad \quad \quad \quad \quad \quad \quad \quad Parameter Estimates
\quad \quad \quad \quad \quad PARAMETER STANDARD \quad T FOR 0 :
VARIABLE DF ESTIMATE ERROR PARAMETER =0= 0 PROB >T> | \mathrm { T } |
 INTERCEPT 1373.5263921258.12433960.2970.7676 SPEED 1104.83894022.362981954.6880.0001 CHIP 13.5718503.894229350.9170.3629\begin{array} { l r l l l l } \text { INTERCEPT } &1 & - 373.526392 & 1258.1243396 & - 0.297 & 0.7676 \\\text { SPEED } & 1 & 104.838940 & 22.36298195 & 4.688 & 0.0001 \\\text { CHIP } & 1 & 3.571850 & 3.89422935 & 0.917 & 0.3629\end{array}


 Identify and interpret the estimate of β2\text { Identify and interpret the estimate of } \beta_{2} \text {. }

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