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Get Full Access to Elementary Statistics - 12 Edition - Chapter 10.3 - Problem 26bsc
Get Full Access to Elementary Statistics - 12 Edition - Chapter 10.3 - Problem 26bsc

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# Regression and Predictions. Exercises use | Ch 10.3 - 26BSC

ISBN: 9780321836960 18

## Solution for problem 26BSC Chapter 10.3

Elementary Statistics | 12th Edition

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Problem 26BSC

Regression and Predictions. Exercises 13–28 use the same data sets as Exercises 13–28 in Section 10-2.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 Using the data from the preceding exercise, find the best predicted price for midgrade gas for a station that posted $2.78 as the price of regular gas. Is the result close to the actual price of$2.84 for midgrade gas?

Step-by-Step Solution:
Step 1 of 3

Problem 26 BSC

Step1 of 3:

We have Exercises use the same data sets as Exercises in Section 10-2. In each case, find the regression equation, letting the first variable be the predictor (x) variable.

 x 3 2.77 2.89 2.93 2.93 2.96 2.86 2.91 y 3.07 3.09 3 3.06 3.03 3.06 3.02 3.03

Step2 of 3:

We need to Find the indicated predicted value by following the prediction procedure summarized in Figure and find the best predicted price for mid-grade gas for a station that posted $2.78 as the price of regular gas. Is the result close to the actual price of$2.84 for mid-grade gas?

Step3 of 3:

Consider,

 x y xy 3 3.07 9.21 9 2.77 3.09 8.5593 7.6729 2.89 3 8.67 8.3521 2.93 3.06 8.9658 8.5849 2.93 3.03 8.8779 8.5849 2.96 3.06 9.0576 8.7616 2.86 3.02 8.6372 8.1796 2.91 3.03 8.8173 8.4681 23.25 24.36 70.7951 = 67.6041

the equation of the regression line is given by

Where,

a =

=

=

=

= 3.1439

And

b =

=

=

=

= -0.0340

-0.034

Now the regression line is

The best prediction is

=

= 3.045.

Step 2 of 3

Step 3 of 3

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