11.20 In Exercise 11.6, the price of a gallon of gasoline y was modeled as a function of the price of a barrel of crude oil x using the following equation:

. Estimates of and were found to be 25.883 and 3.115, respectively.

a Estimate the variance and standard deviation of .

b Suppose the price of a barrel of crude oil is

$15. Estimate the mean and standard deviation of the price of a gallon of gas under these circumstances.

c Repeat part

(b) for a crude oil price of $30.
d What assumptions about did you make in answering parts

(b) and (c)?

Transcribed Image Text:

Site (x) Temperature (y) 37.00 36.25 35.41 1 2 3 4 5 6 7 8 9 11 34.92 34.52 34.45 34.40 34.00 33.62 33.90