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Regression and Predictions. Exercises use

Chapter 10, Problem 25BSC

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QUESTION:

Regression and Predictions. Exercises 13–28 use the same data sets as Exercises 13–28 in Section 102. In each case, find the regression equation, letting the first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure 10-5.

Gas Prices One gas station not included in the table below had a listed price of $2.78 for regular gas. Find the best predicted price of premium gas at this station. Is the result close to the actual price of $2.93 for premium gas?

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QUESTION:

Regression and Predictions. Exercises 13–28 use the same data sets as Exercises 13–28 in Section 102. In each case, find the regression equation, letting the first variable be the predictor (x) variable. Find the indicated predicted value by following the prediction procedure summarized in Figure 10-5.

Gas Prices One gas station not included in the table below had a listed price of $2.78 for regular gas. Find the best predicted price of premium gas at this station. Is the result close to the actual price of $2.93 for premium gas?

ANSWER:

Answer :

Step 1 of 1 :

Given

Figure

Gas Prices One gas station not included in the table below had a listed price of $2.78 for regular gas.

Given data

x

y

2.77

3.07

2.77

3.09

2.79

3

2.81

3.06

2.78

3.03

2.86

3.06

2.75

3.02

2.77

3.03

Now we have to determine the equation of the regression line.

The table is given below.

x

y

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