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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 ($) 54.77 47.27 46.70 77.96 47.05 82.92 2.543 2.366 2.639 3.059 2.412 2.958 Gasoline ($) Send data to Excel The correlation coefficient for the data is r=0.919 and a=0.01. Should regression analysis be done? The regression analysis should not be done. X The regression analysis should be done. Find the equation of the regression line. Round the coefficients to at least three decimal places. y'=a+bx a = b= Find the cost of gasoline when oil is $60 a barrel. Round the answer to at least three decimal places. When oil is $60 a barrel, gas costs $ per gallon.

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 ($) 54.77 47.27 46.70 77.96 47.05 82.92 2.543 2.366 2.639 3.059 2.412 2.958 Gasoline ($) Send data to Excel The correlation coefficient for the data is r=0.919 and a=0.01. Should regression analysis be done? The regression analysis should not be done. X The regression analysis should be done. Find the equation of the regression line. Round the coefficients to at least three decimal places. y'=a+bx a = b= Find the cost of gasoline when oil is $60 a barrel. Round the answer to at least three decimal places. When oil is $60 a barrel, gas costs $ per gallon.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.6: Regression And Median-fit Lines
Problem 1CYU
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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 ($) 54.77 47.27 46.70 77.96 47.05 82.92 2.543 2.366 2.639 3.059 2.412 2.958 Gasoline ($) Send data to Excel The correlation coefficient for the data is r=0.919 and a=0.01. Should regression analysis be done? The regression analysis should not be done. × The regression analysis should be done. Find the equation of the regression line. Round the coefficients to at least three decimal places. y' = a + bx a = b = Find the cost of gasoline when oil is $60 a barrel. Round the answer to at least three decimal places. When oil is $60 a barrel, gas costs $ per gallon.
Transcribed Image Text: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 ($) 54.77 47.27 46.70 77.96 47.05 82.92 2.543 2.366 2.639 3.059 2.412 2.958 Gasoline ($) Send data to Excel The correlation coefficient for the data is r=0.919 and a=0.01. Should regression analysis be done? The regression analysis should not be done. × The regression analysis should be done. Find the equation of the regression line. Round the coefficients to at least three decimal places. y' = a + bx a = b = Find the cost of gasoline when oil is $60 a barrel. Round the answer to at least three decimal places. When oil is $60 a barrel, gas costs $ per gallon.
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