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 ($) 54.77 47.27 46.70 77.96 47.05 82.92 2.543 2.366 2.639 3.059 2.412 2.958 Gasoline ($) Send data to Excel The correlation coefficient for the data is r=0.919 and a=0.01. Should regression analysis be done? The regression analysis should not be done. X 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 $60 a barrel. Round the answer to at least three decimal places. When oil is $60 a barrel, gas costs $ per gallon.
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 ($) 54.77 47.27 46.70 77.96 47.05 82.92 2.543 2.366 2.639 3.059 2.412 2.958 Gasoline ($) Send data to Excel The correlation coefficient for the data is r=0.919 and a=0.01. Should regression analysis be done? The regression analysis should not be done. X 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 $60 a barrel. Round the answer to at least three decimal places. When oil is $60 a barrel, gas costs $ per gallon.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
Question
Transcribed Image Text: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 ($)
54.77 47.27 46.70 77.96 47.05 82.92
2.543 2.366 2.639 3.059 2.412 2.958
Gasoline ($)
Send data to Excel
The correlation coefficient for the data is r=0.919 and a=0.01. Should regression analysis be done?
The regression analysis should not be done.
×
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 $60 a barrel. Round the answer to at least three decimal places.
When oil is $60 a barrel, gas costs $ per gallon.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
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
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
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
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
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
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman