ECO 301 Assignment 01

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eco301_regression_analysis_practice.xls
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Demand for Gasoline

Trillions of BTUs Price per Million BTU Billions of Dollars Millions
Quantity Price GDP Population
Alabama 325.2 21.09 154.1 4,785
Alaska 34.8 27.17 45 714
Arizona 323.6 21.85 228.5 6,413
Arkansas 176.2 21.34 91.8 2,922
California 1,835.70 24.05 1,731.80 37,338
Colorado 260.8 21.35 235.2 5,048
Connecticut 184.7 22.99 211.3 3,575
Delaware 54.7 21.95 56.2 605
Dist. of Col. 12.7 23.08 90.7 605
Florida 998.3 21.17 673.4 18,839
Georgia 599.9 20.41 362 9,712
Hawaii 50.3 27.17 59.3 1,363
Idaho 82 23.01 50.7 1,571
Illinois 600.3 21.92 581.3 12,842
Indiana 369.6 21.18 245.4 6,491
Iowa 195.1 21.54 127.7 3,050
Kansas 146.1 21.39 114 2,859
Kentucky 272.9 21.9 144.6 4,347
Louisiana 280.4 21.2 195.2 4,545
Maine 83.2 22.85 46 1,327
Maryland 329.3 22.05 264.9 5,786
Massachusetts 344.3 22.17 342.1 6,555
Michigan 558.9 21.4 344.9 9,877
Minnesota 310.7 22.32 243.4 5,311
Mississippi 201.7 21.16 87.1 2,970
Missouri 392.4 20.9 217.3 5,996
Montana 60.2 22.91 31.8 991
Nebraska 103.8 22.13 79.7 1,830
Nevada 134 22.75 111.6 2,704
New Hampshire 88.5 22.19 54.6 1,317
New Jersey 517.6 21.26 438.7 8,800
New Mexico 110.9 22.01 72.8 19,395
New York 712.4 22.32 1,034.30 9,560
North Carolina 544.5 21.99 380.6 675
North Dakota 45.6 22.87 31.3 675
Ohio 618 22.01 426.1 11,538
Oklahoma 232.4 20.95 133.5 3,760
Oregon 187 23.33 166.7 3,838
Pennsylvania 633.9 22.54 505.9 1,053
Rhode Island 48.1 22.79 44 1,053
South Carolina 325.6 20.69 145.1 4,637
South Dakota 51.7 22.29 36.3 817
Tennessee 387.9 21.26 228.7 6,357
Texas 1,511.20 21.08 1,106.20 25,253
Utah 125.3 22.9 102.8 2,775
Vermont 40.5 22.96 23.1 626
Virginia 499.9 21.35 380.6 8,024
Washington 328.6 24.05 306.6 6,743
West Virginia 105.4 23.05 56 1,854
Wisconsin 313.9 22.63 221.3 5,692
Wyoming 40.1 21.45 34.4 565
Source: U.S. Department of Energy, Energy Information Agency
http://www.eia.gov/beta/state/seds/seds-data-complete.cfm#Consumption

Demand for Jet Fuel

Trillions of BTUs Price per Million BTU Billions of Dollars Millions
Quantity Price GDP Population SUMMARY OUTPUT
Alabama 11.9 16.44 154.1 4,785
Alaska 128.9 16.81 45 714 Regression Statistics
Arizona 20.9 16.63 228.5 6,413 Multiple R 0.8897842438
Arkansas 5.6 16.13 91.8 2,922 R Square 0.7917160005
California 544.3 16.17 1,731.80 37,338 Adjusted R Square 0.7784212771
Colorado 63.8 16.2 235.2 5,048 Standard Error 45.3957065994
Connecticut 8.5 16.41 211.3 3,575 Observations 51
Delaware 0.5 16.24 56.2 605
Dist. of Col. 0 0 90.7 605 ANOVA
Florida 199.4 16.44 673.4 18,839 df SS MS F Significance F
Georgia 105 16.24 362 9,712 Regression 3 368163.671453923 122721.223817974 59.5511450759 4.83988133115559E-16
Hawaii 51 16.39 59.3 1,363 Residual 47 96856.1983499985 2060.7701776595
Idaho 3.3 16.87 50.7 1,571 Total 50 465019.869803921
Illinois 144.8 16.16 581.3 12,842
Indiana 43.1 16.09 245.4 6,491 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 95.0% Upper 95.0%
Iowa 2.8 16.79 127.7 3,050 Intercept -18.4498422716 45.2861719711 -0.4074056488 0.6855597972 -109.5538676148 72.6541830717 -109.5538676148 72.6541830717
Kansas 17.2 16.27 114 2,859 Price 0.1384290426 2.7885820094 0.049641374 0.9606185392 -5.4714742678 5.748332353 -5.4714742678 5.748332353
Kentucky 58.6 16.34 144.6 4,347 GDP 0.1700785834 0.0391647399 4.3426455505 0.0000745004 0.0912892908 0.248867876 0.0912892908 0.248867876
Louisiana 120.7 16.15 195.2 4,545 Population 0.0052806333 0.0017912377 2.9480360432 0.0049673581 0.0016771279 0.0088841387 0.0016771279 0.0088841387
Maine 8.7 16.41 46 1,327
Maryland 16.7 16.28 264.9 5,786
Massachusetts 36.4 16.41 342.1 6,555
Michigan 20.8 16.23 344.9 9,877
Minnesota 51.5 16.39 243.4 5,311
Mississippi 32.9 16.13 87.1 2,970
Missouri 17.7 16.27 217.3 5,996
Montana 5.3 16.87 31.8 991
Nebraska 4.7 16.78 79.7 1,830
Nevada 26.1 16.56 111.6 2,704
New Hampshire 3.3 16.41 54.6 1,317
New Jersey 227.2 16.16 438.7 8,800
New Mexico 7.3 16.61 72.8 19,395
New York 83.7 16.43 1,034.30 9,560
North Carolina 9.2 16.18 380.6 675
North Dakota 4.6 16.27 31.3 675
Ohio 75.8 16.3 426.1 11,538
Oklahoma 38.7 16.44 133.5 3,760
Oregon 24.5 16.52 166.7 3,838
Pennsylvania 70.6 16.1 505.9 1,053
Rhode Island 3.6 16.41 44 1,053
South Carolina 5.5 16.62 145.1 4,637
South Dakota 4.1 16.27 36.3 817
Tennessee 70 16.27 228.7 6,357
Texas 350.9 16.13 1,106.20 25,253
Utah 33.3 17.59 102.8 2,775
Vermont 1.3 16.41 23.1 626
Virginia 72 16.18 380.6 8,024
Washington 109.2 16.27 306.6 6,743
West Virginia 1.2 16.39 56 1,854
Wisconsin 13.1 16.27 221.3 5,692
Wyoming 2.8 16.87 34.4 565