The table shows the amounts of crude oil (in thousands of barrels per day) produced by a certain country and the amounts of crude oil (in thousands of barrels per day) imported by the same country for seven years. The equation of the regression line is y = - 1.345x + 17,091.68. Complete parts (a) and (b) below. Produced, x 5,682 5,550 5,380 5,243 5,123 5,067 O 9,193 9,668 10,082|10,182|10,187 10,084 5,827 Imported, y 9,313 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.)

The table shows the amounts of crude oil (in thousands of barrels per day) produced by a certain country and the amounts of crude oil (in thousands of barrels per day) imported by the same country for seven years. The equation of the regression line is y = - 1.345x + 17,091.68. Complete parts (a) and (b) below. Produced, x 5,682 5,550 5,380 5,243 5,123 5,067 O 9,193 9,668 10,082|10,182|10,187 10,084 5,827 Imported, y 9,313 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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