Question: Using the data from the preceding exercise find the best
Using the data from the preceding exercise, find the best predicted price for mid-grade gas for a station that posted $2.78 as the price of regular gas. Is the result close to the actual price of $2.84 for mid-grade gas?
Find the regression equation using α = 0.05, letting the first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure.
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