25. Gas Prices One gas station not included in the table below had a listed price of $2.78 for regular gas. the actual price of $2.93 for premium gas? Find the best predicted price of premium gas at this station. Is the result close to Regular 2.77 2.77 2.79 2.81 2.78 2.86 2.75 2.77 Mid-Grade 3.00 2.77 2.89 2.93 2.93 2.96 2.86 2.91 Premium 3.07 3.09 3.00 3.06 3.03 3.06 3.02 3.03

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
icon
Concept explainers
Topic Video
Question
Number 25
**Gas Prices**

One gas station not included in the table below had a listed price of $2.78 for regular gas. Find the best predicted price of premium gas at this station. Is the result close to the actual price of $2.93 for premium gas?

|         |   1    |   2    |   3    |   4    |   5    |   6    |   7    |
|---------|--------|--------|--------|--------|--------|--------|--------|
| Regular |  2.77  |  2.77  |  2.79  |  2.81  |  2.78  |  2.86  |  2.75  |
| Mid-Grade |  3.00  |  2.77  |  2.89  |  2.93  |  2.93  |  2.96  |  2.86  |
| Premium  |  3.07  |  3.09  |  3.00  |  3.06  |  3.03  |  3.06  |  3.02  |

### Explanation:
The table provides prices for three types of gasoline: regular, mid-grade, and premium, at seven different stations. You need to predict the premium gas price for a station where regular gas is priced at $2.78. By examining the relationship between regular and premium prices in the table, you can estimate if the premium price aligns closely with the actual price of $2.93.
Transcribed Image Text:**Gas Prices** One gas station not included in the table below had a listed price of $2.78 for regular gas. Find the best predicted price of premium gas at this station. Is the result close to the actual price of $2.93 for premium gas? | | 1 | 2 | 3 | 4 | 5 | 6 | 7 | |---------|--------|--------|--------|--------|--------|--------|--------| | Regular | 2.77 | 2.77 | 2.79 | 2.81 | 2.78 | 2.86 | 2.75 | | Mid-Grade | 3.00 | 2.77 | 2.89 | 2.93 | 2.93 | 2.96 | 2.86 | | Premium | 3.07 | 3.09 | 3.00 | 3.06 | 3.03 | 3.06 | 3.02 | ### Explanation: The table provides prices for three types of gasoline: regular, mid-grade, and premium, at seven different stations. You need to predict the premium gas price for a station where regular gas is priced at $2.78. By examining the relationship between regular and premium prices in the table, you can estimate if the premium price aligns closely with the actual price of $2.93.
**Regression and Predictions.** Exercises 13–28 use the same data sets as Exercises 13–28 in Section 10-2. In each case, find the regression equation, letting the first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure 10-5.
Transcribed Image Text:**Regression and Predictions.** Exercises 13–28 use the same data sets as Exercises 13–28 in Section 10-2. In each case, find the regression equation, letting the first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure 10-5.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Application of Algebra
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman