Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown below for a random selection of weeks in 2015. Oil (S) 54.77 47.27 46.70 77.96 47.05 82.92 Gasoline ($) 2.543 2.366 2.639 3.059 2.412 2.958 Send data to Excel The correlation coefficient for the data is r= 0.919 and a=0.01. Should regression analysis be done? O The regression analysis should not be done. O O The regression analysis should be done. Find the equation of the regression line. Round the coefficients to at least three decimal places. y'=a+bx a = b =
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
![Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown below for a random selection of weeks in 2015.
Oil (S)
54.77 47.27 46.70 77.96 47.05 82.92
Gasoline ($)
2.543 2.366 2.639 3.059 2.412 2.958
Send data to Excel
The correlation coefficient for the data is r= 0.919 and a = 0.01. Should regression analysis be done?
O The regression analysis should not be done. O
O The regression analysis should be done.
Find the equation of the regression line. Round the coefficients to at least three decimal places.
y' a+bx
a =
b =
Find the cost of gasoline when oil is $64 a barrel. Round the answer to at least three decimal places.
per gallon.
When oil is $64 a barrel, gas costsS](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcc087890-86c6-4823-912a-b98b76d9a7ba%2F58522591-7252-4a63-8bbc-cb7ce57c4528%2F0ylte0w_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
![MATLAB: An Introduction with Applications](https://www.bartleby.com/isbn_cover_images/9781119256830/9781119256830_smallCoverImage.gif)
![Probability and Statistics for Engineering and th…](https://www.bartleby.com/isbn_cover_images/9781305251809/9781305251809_smallCoverImage.gif)
![Statistics for The Behavioral Sciences (MindTap C…](https://www.bartleby.com/isbn_cover_images/9781305504912/9781305504912_smallCoverImage.gif)
![Elementary Statistics: Picturing the World (7th E…](https://www.bartleby.com/isbn_cover_images/9780134683416/9780134683416_smallCoverImage.gif)
![The Basic Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319042578/9781319042578_smallCoverImage.gif)
![Introduction to the Practice of Statistics](https://www.bartleby.com/isbn_cover_images/9781319013387/9781319013387_smallCoverImage.gif)