1. Calculate the mean yearly value using the average gas prices by month found in the “Final Project Data Set.” 2. Using the years as your ...

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        1. Calculate the mean yearly value using the   average gas prices by month found in the “Final Project Data Set.” 2. Using   the years as your x-axis and the annual mean as your y-axis, create a   scatterplot and a linear regression line. 3. Answer the following questions   using your scatterplot and linear regression line: o What is the slope of the   linear regression line? o What is the Y-intercept of the linear regression   line? o What is the equation of the linear regression line in slope-intercept   form? o Based on the linear regression line, what would be an estimated cost   of gas in the year 2020? o What are the residuals of each year? o Select a   current price that you have seen or paid recently for gas. Is that price   within the range of the linear regression line or is it an outlier? Is it   within the confidence interval of 5% or either end?                                  Series Id: APU000074714             Area: U.S. city average             Item: Gasoline, unleaded   regular, per gallon/3.785 liters         Years: 1982 to 2011                            Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec   1982 1.358 1.334 1.284 1.225 1.237 1.309 1.331 1.323 1.307 1.295 1.283 1.26   1983 1.23 1.187 1.152 1.215 1.259 1.277 1.288 1.285 1.274 1.255 1.241 1.231   1984 1.216 1.209 1.21 1.227 1.236 1.229 1.212 1.196 1.203 1.209 1.207 1.193   1985 1.148 1.131 1.159 1.205 1.231 1.241 1.242 1.229 1.216 1.204 1.207 1.208   1986 1.194 1.12 0.981 0.888 0.923 0.955 0.89 0.843 0.86 0.831 0.821 0.823   1987 0.862 0.905 0.912 0.934 0.941 0.958 0.971 0.995 0.99 0.976 0.976 0.961   1988 0.933 0.913 0.904 0.93 0.955 0.955 0.967 0.987 0.974 0.957 0.949 0.93   1989 0.918 0.926 0.94 1.065 1.119 1.114 1.092 1.057 1.029 1.027 0.999 0.98   1990 1.042 1.037 1.023 1.044 1.061 1.088 1.084 1.19 1.294 1.378 1.377 1.354   1991 1.247 1.143 1.082 1.104 1.156 1.16 1.127 1.14 1.143 1.122 1.134 1.123   1992 1.073 1.054 1.058 1.079 1.136 1.179 1.174 1.158 1.158 1.154 1.159 1.136   1993 1.117 1.108 1.098 1.112 1.129 1.13 1.109 1.097 1.085 1.127 1.113 1.07   1994 1.043 1.051 1.045 1.064 1.08 1.106 1.136 1.182 1.177 1.152 1.163 1.143   1995 1.129 1.12 1.115 1.14 1.2 1.226 1.195 1.164 1.148 1.127 1.101 1.101   1996 1.129 1.124 1.162 1.251 1.323 1.299 1.272 1.24 1.234 1.227 1.25 1.26   1997 1.261 1.255 1.235 1.231 1.226 1.229 1.205 1.253 1.277 1.242 1.213 1.177   1998 1.131 1.082 1.041 1.052 1.092 1.094 1.079 1.052 1.033 1.042 1.028 0.986   1999 0.972 0.955 0.991 1.177 1.178 1.148 1.189 1.255 1.28 1.274 1.264 1.298   2000 1.301 1.369 1.541 1.506 1.498 1.617 1.593 1.51 1.582 1.559 1.555 1.489   2001 1.472 1.484 1.447 1.564 1.729 1.64 1.482 1.427 1.531 1.362 1.263 1.131   2002 1.139 1.13 1.241 1.407 1.421 1.404 1.412 1.423 1.422 1.449 1.448 1.394   2003 1.473 1.641 1.748 1.659 1.542 1.514 1.524 1.628 1.728 1.603 1.535 1.494   2004 1.592 1.672 1.766 1.833 2.009 2.041 1.939 1.898 1.891 2.029 2.01 1.882   2005 1.823 1.918 2.065 2.283 2.216 2.176 2.316 2.506 2.927 2.785 2.343 2.186   2006 2.315 2.31 2.401 2.757 2.947 2.917 2.999 2.985 2.589 2.272 2.241 2.334   2007 2.274 2.285 2.592 2.86 3.13 3.052 2.961 2.782 2.789 2.793 3.069 3.02   2008 3.047 3.033 3.258 3.441 3.764 4.065 4.09 3.786 3.698 3.173 2.151 1.689   2009 1.787 1.928 1.949 2.056 2.265 2.631 2.543 2.627 2.574 2.561 2.66 2.621   2010 2.731 2.659 2.78 2.858 2.869 2.736 2.736 2.745 2.704 2.795 2.852 2.985    

    • 8 years ago
    • Paid recently = $3.49 per gallon Mean of the gas prices for the given years = $1.523 and SD = $0.651 ...
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