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I am having trouble with finding the coefficient of determination of both the between gasoline prices and crude oil prices, and airline ticket prices and
I am having trouble with finding the coefficient of determination of both the between gasoline prices and crude oil prices, and airline ticket prices and crude oil prices.
This link is where the data comes from: https://docs.google.com/spreadsheets/d/1kW5UgabXh4sL5TpCkpfxGpzZBJzu3dIIyzRLSdsbYrE/edit?usp=sharing
Lab Questions It is often stated in the news that the price of crude oil has a direct impact on the price of gasoline at the pump. Investigate this claim by performing a simple linear regression of gasoline prices on the price of crude oil. Plot the data in a scatter with the regression line plotted in the same plot. (Submit a file with a maximum size of 1 MB.) Choose File| No file chosen Score: 1 out of 1 Comment: Find the coefficient of determination. (Round your answer to three decimal places.) Use your plot and the coefficient of determination to help explain why you either agree or disagree with the news reporter's claim. This answer has not been graded yet. it is often claimed that falling crude oil prices reduce airline fuel consumption costs, and should thus herald in much lower airline ticket prices. Investigate this claim using a simple regression of airline ticket prices on the price of crude oil. Plot the data in a scatter with the regression line plotted in the same plot. (Submit a file with a maximum size of 1 MB.) Choose File|No file chosen This answer has not been graded yet. Find the coefficient of determination. (Round your answer to three decimal places.) Use your plot and the coefficient of determination to help explain why you either agree or disagree with the news reporter's claim. This answer has not been graded yet. Interpret and discuss, comparing your findings for the two claims. Note: Airlines often purchase fuel in bulk at fixed prices for future use, negotiating prices long into the future. This is called fuel hedging. Some airlines take the gamble by not hedging, in order to take advantage of falling prices, but other airlines may choose to hedge. The complexity of competitive forces may seem to obscure the relationships between factors like fuel and ticket prices. So, to use regression, it is important for an investigator to learn more about the subject being studied, and not just look at the numbers in isolation. This answer has not been graded yetStep by Step Solution
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