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Shown here are the average prices per year for several metals over a period of 12 years: Gold ($ per oz) Copper ( per lb)
Shown here are the average prices per year for several metals over a period of 12 years: Gold ($ per oz) Copper ( per lb) Silver ($ per oz) Aluminum ( per lb) 161.1 64.2 4.4 39.8 308.0 93.3 11.1 61.0 613.0 101.3 20.6 71.6 460.0 84.2 10.5 76.0 376.0 72.8 8.0 76.0 424.0 76.5 11.4 77.8 361.0 66.8 8.1 81.0 318.0 67.0 6.1 81.0 368.0 66.1 5.5 81.0 448.0 82.5 7.0 72.3 438.0 120.5 6.5 110.1 382.6 130.9 5.5 87.8 The following is the summary statistics for the table above generated from an Excel regression analysis: SUMMARY OUTPUT Regression Statistics Multiple R 0.90582836 R Square 0.820525017 Adjusted R Square 0.753221898 Standard Error 53.43859276 Observations 12 ANOVA df SS MS F Significance F Regression 3 104445.0636 34815.0212 12.19148582 0.002362638 Residual 8 22845.46557 2855.683196 Total 11 127,290.5291700 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept -51.57488659 87.82443921 -0.587249825 0.573232262 -254.0984066 150.9486334 Copper 0.069633112 0.875259899 0.079557069 0.938543643 -1.948719834 2.087986059 Silver 18.78348992 3.80383711 4.938037403 0.001137869 10.01182582 27.55515403 Aluminum 3.537815936 1.167805532 3.029456393 0.016322908 0.844851549 6.230780322 Based on the Excel output, does there appear to be a significant linear relationship between the price of Gold and at least one of the prices of Copper, Silver, or Aluminum? Use the F-test for the population slope at 5% significance level. What is the regression equation
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