• Create histogram of the dependent variable and interpret it in no more than two short sentences in the context of the problem. Do not show the graph.
• Create appropriate scatter plots and describe each of them (including the correlations) in two short sentences. Understanding these graphs is critical to writing down the "correct" model. Do not show the graphs.
• Develop a regression model using the above, run a regression and report your final equation using the estimated values from Stattools. State the p-values for each regression coefficient using the same style as in the word file, Explaining Regression Output posted in this folder.
• In one sentence, describe each of the SLOPE coefficients carefully.
• Explain the R-square for the model in context of the problem.
• Explain the standard error of the regression in context of the problem.
• Examine the residual plot and describe it in one sentence in context of the problem, making sure to address if there is any serious drawback in your model or not.
• There is a 1% chance oil consumption will exceed what value?