The average retail price per gallon (in cents) of regular unleaded gasoline at 3-year intervals from 1992

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The average retail price per gallon (in cents) of regular unleaded gasoline at 3-year intervals from 1992 to 2010 is given in this table:

a. Plot these data on a graph, with the number of years after 1992 on the t axis and the average price of gasoline on the y axis.

b. Find the equation of the least-squares line for the data. Is the line a good fit?

c. What price per gallon does the least-squares line predict you will pay for a gallon of regular unleaded gasoline in 2015?

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Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

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Question Posted: Jun 24, 2023 08:42 AM

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The average retail price per gallon (in cents) of regular unleaded gasoline at 3-year intervals from 1992

Question:

Year Price per gallon (cents) 1992 109 1998 2001 2004 2007 280 1995 111 103 142 185 2010 276

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a b So the equation of the least squares line is ...View the full answer

Calculus For Business, Economics And The Social And Life Sciences

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