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Regression and Predictions. Exercises use
Chapter 10, Problem 26BSC(choose chapter or problem)
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?
Questions & Answers
QUESTION:
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?
ANSWER:Problem 26 BSC
Answer:
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,