15. Now, using the new quadratic model, predict what the price of gas will be in the year2020. Does this cause any concern? Years since20000W|NT2-8VSSTW9101112Gas Price perGallon$1.30$1.47$1.14$1.47$1.59$1.82$2.32$2.27$3.05$1.79$2.73$3.09$3.40Gas Price Adjustedfor Inflation1.31.521.21.581.742.062.732.723.812.243.54.034.57

The given data is as follows: Years since 2000Gas Price per GallonGas Price Adjusted01.31.311.471.5221.141.231.471.5841.591.7451.822.0662.322.7372.272.7283.053.8191.792.24102.733.5113.094.03123.44.57YX1.3001.47111.14241.47391.594161.825252.326362.277493.058641.799812.73101003.09111213.412144The matrix and vector are defined to conduct the matrix calculation required for computing the regression coefficients as shown below:The following matrix operation is used for computing the vector with the estimated regression coefficients .Substituting values of X and y and the vector with estimated regression coefficients is computed as shown below:Hence, the estimated quadratic model is as follows:Now the year 2020 means, .Hence, the predicted price of gas per gallon using quadratic model in 2020 is $5.7162.Here, the price of gas per gallon is increasing yoy and it is a bit concerning in terms of affordability and it also shows that the demand is greater than the supply which could lead to shortage in the availability of the gas. Also, it might also become difficult in the terms of affordability.The predicted price of gas per gallon using quadratic model in 2020 is $5.7162.Here, the price of gas per gallon is increasing yoy and it is a bit concerning in terms of affordability and it also shows that the demand is greater than the supply which could lead to shortage in the availability of the gas. Also, it might also become difficult in terms of affordability.