for the last seven years. Construct and interpret a 99% prediction interval for the amount of crude oil imported by the this country when the amount of crude oil produced by the country is 5,497 thousand barrels per day. The equation of the regression line is y=-1.164x+16,091.795. Oil produced, x 5,823 Oil imported, y 9,308 5,707 9,121 5,645 9,648 5,462 10,058 5,169 10,197 5,058 10,101 5,042 10,097 Construct and interpret a 99% prediction interval for the amount of crude oil imported when the amount of crude oil produced by the country is 5,497 thousand barrels per day. Select the correct choice below and fill in the answer boxes to complete your choice. (Round to two decimal places as needed.) OA. There is a 99% chance that the predicted amount of oil imported is between and thousand barrels per day, when there are 5,497 thousand barrels per day produced. OB. We can be 99% confident that when the amount of oil produced is 5,497 thousand barrels per day, the amount of oil imported will be between and thousand barrels per day.

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
Please solve for A or B and the missing values
The table below shows the amounts of crude oil (in thousands of barrels per day) produced by a country and the amounts of crude oil (in thousands of barrels per day) imported by a country,
for the last seven years. Construct and interpret a 99% prediction interval for the amount of crude oil imported by the this country when the amount of crude oil produced by the country is
5,497 thousand barrels per day. The equation of the regression line is y=-1.164x + 16,091.795.
Oil produced, x
5,823
5,707
5,645
Oil imported, y
9,308
9,121
9,648
***
5,462
10,058
5,169
10,197
5,058
10,101
5,042
10,097
D
Construct and interpret a 99% prediction interval for the amount of crude oil imported when the amount of crude oil produced by the country is 5,497 thousand barrels per day. Select the
correct choice below and fill in the answer boxes to complete your choice.
(Round to two decimal places as needed.)
OA. There is a 99% chance that the predicted amount of oil imported is between and thousand barrels per day, when there are 5,497 thousand barrels per day produced.
OB. We can be 99% confident that when the amount of oil produced is 5,497 thousand barrels per day, the amount of oil imported will be between
thousand barrels per day.
and
Transcribed Image Text:The table below shows the amounts of crude oil (in thousands of barrels per day) produced by a country and the amounts of crude oil (in thousands of barrels per day) imported by a country, for the last seven years. Construct and interpret a 99% prediction interval for the amount of crude oil imported by the this country when the amount of crude oil produced by the country is 5,497 thousand barrels per day. The equation of the regression line is y=-1.164x + 16,091.795. Oil produced, x 5,823 5,707 5,645 Oil imported, y 9,308 9,121 9,648 *** 5,462 10,058 5,169 10,197 5,058 10,101 5,042 10,097 D Construct and interpret a 99% prediction interval for the amount of crude oil imported when the amount of crude oil produced by the country is 5,497 thousand barrels per day. Select the correct choice below and fill in the answer boxes to complete your choice. (Round to two decimal places as needed.) OA. There is a 99% chance that the predicted amount of oil imported is between and thousand barrels per day, when there are 5,497 thousand barrels per day produced. OB. We can be 99% confident that when the amount of oil produced is 5,497 thousand barrels per day, the amount of oil imported will be between thousand barrels per day. and
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 5 images

Blurred answer
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