Question: QUESTION: Question 2 of B [2 points} | Mempt1 M1 | (B 2h 58m Remaining 1&2 Section Exercise 12 Oil and Gas Prices The average

QUESTION:

QUESTION: Question 2 of B [2 points} | Mempt1 M1 | (B

Question 2 of B [2 points} | Mempt1 M1 | (B 2h 58m Remaining 1&2 Section Exercise 12 Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown below for a random selection of weeks in 2015. Oil (5} 43.57 40.54 53.69 41.85 86.03 55.35 Gasoline ($) 2.450 2.547 2.?94 2.522 3.103 2.604 {Send data to Excel} The correlation coefficient for the data is r = 0918 and o: = I105. Should regression analysis be done? 0 The regression analysis should not be done. 0 The regression analysis should be done. Find the equation of the regression line. Round the coefcients to at least three decimal places. y ' =a+ bx . = D on Find the cost of gasoline when oil is $57 a barrel. Round the answer to at least three decimal places. When oil is $5? a barrel, gas costs$B per gallon

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock 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 Mathematics Questions!