(Solved): weight of the bicycle. The following data show the weight (pounds) and price ( \( \$ \) ) for ten ...

weight of the bicycle. The following data show the weight (pounds) and price ( \( \$ \) ) for ten racing bicycles reviewed by the magazine. Click on the datafile logo to reference the data. (a) Choose a scatter chart below with weight as the independent variable. (b) Use the data to develop an estimated regression equation that could be used to estimate the price for a bicycle given its weight. What is the estimated regression model? Let \( x \) represent the bicycle weight. If required, round your answers to two decimal places. For subtractive or negative numbers use a minus sign even if there is a \( + \) sign before the blank. (Example: \( -300 \) ) \( \hat{y}= \) not reasonable but the interpretation of \( \beta_{1} \) is reasonable. reasonable. but the interpretation of \( \beta_{1} \) is reasonable. reasonable. (d) How much of the variation in the prices of the bicycles in the sample does the regression model you estimated in part (b) explain? If required, round your answer to two decimal places. \( \% \) If required, round your answer to the nearest whole number. Do not round intermediate calculations.