Question
The table shows the amounts of crude oil(in thousands of barrels perday) produced by a certain country and the amounts of crude oil(in thousands of
The table shows the amounts of crude oil(in thousands of barrels perday) produced by a certain country and the amounts of crude oil(in thousands of barrels perday) imported by the same country for seven years. The equation of the regression line is
y=1.295x+16,820.46. Complete parts(a) and(b) below.
Produced, x
5,793
5,720
5,623
5,436
5,232
5,126
5,096
Imported, y
9,306
9,145
9,680
10,044
10,160
10,161
10,012
(a) Find the coefficient of determination and interpret the result.
r2=
nothing
(Round to three decimal places asneeded.)
How can the coefficient of determination beinterpreted?
The fraction of the variation in the amount of
imported crude oil
produced crude oil
that can be explained by the variation in the amount of
imported crude oil
produced crude oil
is
r squared .
r2.
1 minus r squared .
1r2.
The remaining fraction
r squared
r2
1 minus r squared
1r2
of the variation is unexplained and is due to other factors or to sampling error.
(b) Find the standard error of estimate se and interpret the result.
se=
nothing
thousands of barrels per day
(Round to three decimal places asneeded.)
How can the standard error of estimate beinterpreted?
The standard error of estimate of the amount of
imported crude oil
produced crude oil
for
a specific amount
any amount
any amount within the range of the data set
of
imported crude oil
produced crude oil
is about se
thousand of barrels per day.
thousand of barrels per year.
thousand of barrels.
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