Question: The table shows world average daily oil consumption from 1985 to 2010 measured in thousands of barrels per day. (a) Make a scatter plot and

The table shows world average daily oil consumption from 1985 to 2010 measured in thousands of barrels per day.

(a) Make a scatter plot and decide whether a linear model is appropriate.

(b) Find and graph the regression line.

(c) Use the linear model to estimate the oil consumption in 2002 and 2012.

Years since 1985

Thousands of barrels  of oil per day

0

60,083

5

66,533

10

70,099

15

76,784

20

84,077

25

87,302

Step by Step Solution

★★★★★

3.33 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a See the scatter plot in part b A linear model seems appropriat... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Precalculus Questions!

Q:

Figure 3.37 depicts the amounts of daily oil consumption in the United States and Japan. Does the illustration accurately depict the data? Why or why not? Figure 3.37 Daily Oil Consumption (millions...

Q:

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...

Q:

The following table lists the average oil consumption per day for the top 15 oil-consuming countries. Use a graphical technique to present these figures. Consumption Country (barrels per day) Brazil...

Q:

The table shows world average daily oil consumption from 1985 to 2010 measured in thousands of barrels per day. (a) Compute and interpret the average rate of change from 1990 to 2005. What are the...

Q:

The table shows world average daily oil consumption from 1985 to 2015, measured in thousands of barrels per day. (a) Make a scatter plot and decide whether a linear model is appropriate. (b) Find and...

Q:

What do I need to do here? glaph MILO C it represents the tem scales. of the fand (1.2.27) The following table shows the world average daily oil consumption from 1985 to 2010 measured in thousands of...

Q:

IDEO Case Study Assignment What are features of IDEO's "Exploratory Phase"? (select all that apply) Team members share different insights they have gained in downloading sessions Extended interviews...

Q:

a. The GCC region has been of interest to many researchers around the world, and over the decades, many scholarships have been produced on varied dimensions. Why? b. What was the purpose of writing...

Q:

How did China's economy perform during the first decade of the 2000s? How did joining the WTO contribute to China's economic performance? What economic issues led Wen Jiabao to revise China's...

Q:

Hi Tutor, need your help in the following question: 1) Using all the following information, discuss the adavantage and costs of raising equity capital in each of the 3 financial markets. Which market...

Q:

Find a vector parametrization of the line through P = (3, -5, 7) in the direction v = (3, 0, 1).

Q:

Does the principle of optimization imply that people always make the best choices?

Q:

1 1 0 0 % chance of receiving $ 1 , 1 0 0 2 5 0 % chance of receiving $ 1 , 0 0 0 5 0 % chance of receiving $ 1 , 2 0 0 3 5 0 % chance of receiving $ 2 0 0 5 0 % chance of receiving $ 2 , 0 0 0 If...

Q:

d. Should one discard CAPM? In answering this question, read once again the box titled Lessons of Our Times. Is beta relevant in this case? Discuss.

Q:

Explain, using Theorems 4, 5, 7, and 9, why the function is continuous at every number in its domain. State the domain. 22. G(x) = V(1 + x*) 21. F(x) x2 + 5x + 6 23. R(x) = x + V2x - 1 sin x 24. h(x)...

Q:

Explain, using Theorems 4, 5, 7, and 9, why the function is continuous at every number in its domain. State the domain. 22. G(x) = V(1 + x*) 21. F(x) x2 + 5x + 6 23. R(x) = x + V2x - 1 sin x 24. h(x)...

Q:

Explain, using Theorems 4, 5, 7, and 9, why the function is continuous at every number in its domain. State the domain. 22. G(x) = V(1 + x*) 21. F(x) x2 + 5x + 6 23. R(x) = x + V2x - 1 sin x 24. h(x)...

Q:

The following spreadsheet contains monthly returns for Cola Co . and Gas Co . for 2 0 2 2 : Using these data, estimate the average monthly return and the volatility for each stock. The average...

Q:

1 What is the WACC for a company that gets 40% of their financing from debt and 60% from equity, their Kd is 7% and their ke is 12%? 2 What is the WACC for a company that get 30% of their financing...

Q:

Brittany purchased a car using a 6-year car lease at 6.80% compounded quarterly that required him to make payments of $413 at the beginning of each month. Calculate the cost of the car if he made a...