How well does the equation explain gasoline prices? Be specific.

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
Question

e. How well does the equation explain gasoline prices? Be specific.

←
↑
€
My PennWest Login
Home - myPennWes X
1 66°F
Mostly cloudy
D2L Learning Log 7 - Spi X
eCampus: Choosing...
1 of 2
https://pennwest.brightspace.com/d2l/le/content/3518986/viewContent/35581116/View
https://ecampus.vit... WeBWork: CMAT_2...
SOURCE
MODEL
ERROR
TOTAL
Dashboard
VARIABLE
STANDARD ERROR Se (ROOT MSE)
DEP MEAN
PO
QG
SUM
DEPENDENT VARIABLE: PG
SUM SQUARES
5707.43
11.62
6230.27
Q Search
Use the "printout" below to answer questions on multiple regression that follow. PG
is price of gasoline ($per gal). PO is the price of oil (Sper bbl). OG is the amount
(1000 gal) of gasoline inventories. SUM is 1 during Summer, 0 otherwise. n=49.
DF
3
45
48
INTERCEPT 1
1
1
DF
DURBIN-WATSON D:
(FOR NUMBER OF OBS.)
PG
CORRELATION MATRIX:
PG
1.00
.00
PO
QG
PARAMETER
ESTIMATE
19.926
.01083
-.07736
0.4831
SUM
X Q Learning Log 7 Assu X
.119
.023
.257
.017
MULTIPLE REGRESSION
+
PO
-119
.023
70%
MEAN SQUARE
1902.48
.2582
.8914
2.894
PARAMETER ESTIMATES
STANDARD
ERROR
19.071
0.002
0.037
0.901
1.410
49
QG
SUM
.257 -.846
.017 .018
1.00 .064 -.353
.000
.243 .337
.064 1.00
.243 .000
.237
.436
-.846 -.353 .237 1.00
.018 .337 .436 .000
R-SQUARE .879
ADJ R-SQ .873
F VALUE
7366.6
T STATISTIC
Ch. 1 Introduction -...
-0.842
5.520
-2.082
0.536
PG
Show your work ple X
DELL
PROB>FI
0.0001
QG
Mail - Sdhari Morris X
Start Here, Go Any...
qb
+
☆
The Best Summary...
I
4)
»
Get Help
4:56 PM
4/5/2023
x
C
H
O
+
8
3
Transcribed Image Text:← ↑ € My PennWest Login Home - myPennWes X 1 66°F Mostly cloudy D2L Learning Log 7 - Spi X eCampus: Choosing... 1 of 2 https://pennwest.brightspace.com/d2l/le/content/3518986/viewContent/35581116/View https://ecampus.vit... WeBWork: CMAT_2... SOURCE MODEL ERROR TOTAL Dashboard VARIABLE STANDARD ERROR Se (ROOT MSE) DEP MEAN PO QG SUM DEPENDENT VARIABLE: PG SUM SQUARES 5707.43 11.62 6230.27 Q Search Use the "printout" below to answer questions on multiple regression that follow. PG is price of gasoline ($per gal). PO is the price of oil (Sper bbl). OG is the amount (1000 gal) of gasoline inventories. SUM is 1 during Summer, 0 otherwise. n=49. DF 3 45 48 INTERCEPT 1 1 1 DF DURBIN-WATSON D: (FOR NUMBER OF OBS.) PG CORRELATION MATRIX: PG 1.00 .00 PO QG PARAMETER ESTIMATE 19.926 .01083 -.07736 0.4831 SUM X Q Learning Log 7 Assu X .119 .023 .257 .017 MULTIPLE REGRESSION + PO -119 .023 70% MEAN SQUARE 1902.48 .2582 .8914 2.894 PARAMETER ESTIMATES STANDARD ERROR 19.071 0.002 0.037 0.901 1.410 49 QG SUM .257 -.846 .017 .018 1.00 .064 -.353 .000 .243 .337 .064 1.00 .243 .000 .237 .436 -.846 -.353 .237 1.00 .018 .337 .436 .000 R-SQUARE .879 ADJ R-SQ .873 F VALUE 7366.6 T STATISTIC Ch. 1 Introduction -... -0.842 5.520 -2.082 0.536 PG Show your work ple X DELL PROB>FI 0.0001 QG Mail - Sdhari Morris X Start Here, Go Any... qb + ☆ The Best Summary... I 4) » Get Help 4:56 PM 4/5/2023 x C H O + 8 3
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question

Can you please explain the equation for the gasoline price?

y=B0+B1X1+e

Solution
Bartleby Expert
SEE SOLUTION
Similar questions
  • SEE MORE QUESTIONS
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