Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown below for a random selection of weeks in 2015. Oil ($)Gasoline ($)43.572.45040.542.54753.692.79441.852.62286.033.10355.352.604 The correlation coefficient for the data is r=0.918 and a=0.05Should regression analysis be done? Please make choice below. The regression analysis should not be done. The regression analysis should be done. Find the equation of the regression line. Round the coefficients to at least three decimal places. y′=a+bx a= b= Find the cost of gasoline when oil is $59 a barrel. Round the answer to at least three decimal places. When oil is$59 a barrel ,gas costs how much per gallon? $?

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Answered: Find the equation of the regression…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Oil and Gas Prices The average gasoline price per gallon (in cities) and the cost of a barrel of oil are shown below for a random selection of weeks in 2015.

Oil ($)	Gasoline ($)
43.57	2.450
40.54	2.547
53.69	2.794
41.85	2.622
86.03	3.103
55.35	2.604

The correlation coefficient for the data is

r=0.918

and

a=0.05

Should regression analysis be done? Please make choice below.

The regression analysis should not be done.
The regression analysis should be done.
	Find the equation of the regression line. Round the coefficients to at least three decimal places.
	y′=a+bx
	a=
	b=

	Find the cost of gasoline when oil is $59 a barrel. Round the answer to at least three decimal places.
	When oil is$59 a barrel ,gas costs how much per gallon? $?

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Find the cost of gasoline when oil is $62 a barrel. Round the answer to at least three decimal places.
	Whenoilis$62abarrel,gascosts$pergallon.

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