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 ago
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