Question
A US consumer lobby wishes to develop a model to predict gasoline usage, as measured by miles per gallon, based on the weight of the
A US consumer lobby wishes to develop a model to predict gasoline usage, as measured by miles per gallon, based on the weight of the car in pounds. The Excel data file AUTO.xls (contained in a folder under the CML Quizzes tab) contains these data (and also HP) for fifty recent models. Use Excel Data Analysis to estimate a linear model for the relationship, as well as a 94% confidence interval for the slope and a residual plot. State all numerical answers below correct to four decimal places using the Excel output results. 1. the intercept 2. the slope coefficient , and 3. the standard error of the estimate 4. Using this model, predict the gasoline usage for a car weighing 1900 pounds. Use all decimal places in your calculation by selecting and using the values of b0 and b1 in the output generated by Excel.
5. Does the prediction involve extrapolating the relationship? Type yes or no. From the output for 94% confidence interval for the slope coefficient report 6. the lower bound and 7. the upper bound
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started