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= -1.246x + 16,568.53. Complete parts (a) and (b) below. Produced, x 5,717 5,646 5,385 5,193 5,160 5,063 O 9,166 9,677 10,078 10,199 10,151 10,051 5,844 Imported, y 9,310 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.) How can the coefficient of determination be interpreted? The fraction of the variation in the amount of that can be explained by the variation in the amount of V is V The remaining fraction of the varlation is unexplained and is due to other factors or to sampling error. (b) Find the standard error of estimate s, and interpret the result. s thousands of barrels per day (Round to three decimal places as needed.) How can the standard error of estimate be interpreted? The standard error estimate of the amount of V for Vis about s

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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 = - 1.246x + 16,568.53. Complete parts (a) and (b) below.
5,717 5,646 5,385 5,193 5,160 5,063 O
9,166 9,677 10,078 10,199 10,151 10,051
Produced, x
5,844
Imported, y
9,310
(a) Find the coefficient of determination and interpret the result.
(Round to three decimal places as needed.)
How can the coefficient of detemmination be interpreted?
The fraction of the variation in the amount of
V that can be explained by the variation in the amount of
V The remaining fraction
V of the varlation is unexplained and is due to
other factors or to sampling error.
(b) Find the standard error
estimate s, and interpret the result.
s= thousands
barrels per day
(Round to three decimal places as needed.)
How can the standard error of estimate be interpreted?
The standard error of estimate of the amount of
V for
v is about s
Transcribed Image Text: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 = - 1.246x + 16,568.53. Complete parts (a) and (b) below. 5,717 5,646 5,385 5,193 5,160 5,063 O 9,166 9,677 10,078 10,199 10,151 10,051 Produced, x 5,844 Imported, y 9,310 (a) Find the coefficient of determination and interpret the result. (Round to three decimal places as needed.) How can the coefficient of detemmination be interpreted? The fraction of the variation in the amount of V that can be explained by the variation in the amount of V The remaining fraction V of the varlation is unexplained and is due to other factors or to sampling error. (b) Find the standard error estimate s, and interpret the result. s= thousands barrels per day (Round to three decimal places as needed.) How can the standard error of estimate be interpreted? The standard error of estimate of the amount of V for v is about s
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