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 ( $ ) Gasoline ( $ ) 87.80 3.050 47.67 2.680 58.03 3.044 53.18 2.627 40.38 2.443 41.06 2.349 The correlation coefficient for the data is r=0.825 and α=0.05 . 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′+abx =a =b Find the cost of gasoline when oil is $64 a barrel. Round the answer to at least three decimal places. Whenoilis$64abarrel,gascosts$pergallon.

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 ( $ ) Gasoline ( $ ) 87.80 3.050...

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 ( $ )	Gasoline ( $ )
87.80	3.050
47.67	2.680
58.03	3.044
53.18	2.627
40.38	2.443
41.06	2.349

The correlation coefficient for the data is r=0.825 and α=0.05 . 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′+abx
	=a
	=b

	Find the cost of gasoline when oil is $64 a barrel. Round the answer to at least three decimal places.
	Whenoilis$64abarrel,gascosts$pergallon.

Jun 01, 2022

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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 ( $ ) Gasoline ( $ ) 87.80 3.050...

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