Question
In: Statistics and Probability
1) The table shows the amounts of crude oil (in thousands of barrels per day) produced...
1) The table shows the amounts of crude oil (in thousands of barrels per day) produced by a certain country and the amounts of crude oil (in thousands of barrels per day) imported by the same country for seven years. The equation of the regression line is
y = -1.339x+17,009.89.
Complete parts (a) and (b) below.
Produced, x Imported, y
5,831 9,336
5,674 9,191
5,575 9,676
5,408 10,008
5,236 10,108
5,174 10,178
5,037 10,053
(a) Find the coefficient of determination and interpret the result.
r2=
- How can the coefficient of determination be interpreted?
(b) Find the standard error of estimate and interpret the result.
s=
- How can the standard error of estimate be interpreted?
Solutions
Expert Solution
(a) Find the coefficient of determination :
Coefficient of determination is show that the ralation between dependent variable and other independent variable ,
coefficient of determination =r2=0.7982
Interpretion :
About 79.82 % of the variation in the amounts of crude oil imported by the same country for seven years can be explained by the number the amounts of crude oil produced by a certain country .
Excel Calculation :
(b) The standard error of estimate and interpret the result.
s=s/sqrt(5)
s=195.41
The standard error of estimate of the 195.41 is the amount f crude oil produced by a certain country
Regrssion Anlysis :
orchestra answered 2 years agoRelated Solutions
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