Construct a 95% prediction interval for the amount of crude oil imported by the United States in Exercise 17 when the amount of crude oil produced by the United States is 8 million barrels per day.

Construct the indicated prediction interval and interpret the results.

Data from Exercise 17:

The table shows the amounts of crude oil (in thousands of barrels per day) produced by the United States and the amounts of crude oil (in thousands of barrels per day) imported by the United States for seven years. The equation of the regression line is ŷ = -0.438x + 11,404.947.

Transcribed Image Text:

Produced, x 5475 5646 6487 7468 8764 9415 8875 Imported, y 9213 8935 8527 7730 7344 7363 7877