# Question

Consider the retail price of regular gasoline at selected locations and times shown in Table 11.3.12.

a. How strong is the association between prices in 2010 and prices a year earlier? Please give both a number and its interpretation in words.

b. Find the regression equation to predict the later from the earlier prices.

c. Find the residual value for Florida (predicting later from earlier prices).

d. Find the 95% confidence interval for the slope coefficient.

e. Is the slope coefficient significantly different from 0? How do you know?

FIGURE 11.3.1

FIGURE 11.3.2

FIGURE 11.3.3

FIGURE 11.3.4

a. How strong is the association between prices in 2010 and prices a year earlier? Please give both a number and its interpretation in words.

b. Find the regression equation to predict the later from the earlier prices.

c. Find the residual value for Florida (predicting later from earlier prices).

d. Find the 95% confidence interval for the slope coefficient.

e. Is the slope coefficient significantly different from 0? How do you know?

FIGURE 11.3.1

FIGURE 11.3.2

FIGURE 11.3.3

FIGURE 11.3.4

## Answer to relevant Questions

High salaries for presidents and high executives of charitable organizations have been in the news from time to time. Consider the information in Table 11.3.13 for the United Way in 10 major cities. a. What percent of the ...One weekend when you reduced prices 5%, your store had $58,000 worth of sales. The next weekend, with a 15% reduction, your sales were $92,000. The weekend after that, with a 17.5% reduction, your sales were $95,000. Based ...Consider the number of transactions and the total dollar value of merger and acquisition deals in the oil and gas industry, from Table 11.1.5. a. Find the regression equation for predicting the dollar value from the number ...a. What salary would you expect for an individual with three years of experience? b. Find the 95% confidence interval for the salary of a new individual (from the same population from which the data were drawn) who has three ...a. What are the axes in the diagnostic plot? b. Why is it good to find no structure in the diagnostic plot?Post your question

0