Carlos Gonzales is a manager at a bank. Currently, Carlos is attending a Business Analytics evening...

Carlos Gonzales is a manager at a bank. Currently, Carlos is attending a Business Analytics evening class. Recently, Carlos bought a used car and is concerned about its gasoline consumption. In essence, Carlos believes that his car consumes an excessive amount of gasoline. To examine the true gasoline consumption of his car, each time Carlos fills his tank, he records the amount of gasoline (in gallons) he puts into his car along with the mileage he has driven.

Gallons,Miles

7.469,144.9
5.549,125.9
7.271,153.6
8.669,168.0
8.045,186.8
12.392,253.3
11.852,258.2

Determine the equation of the estimated regression line. Based on the data, what is the intercept of this line?

Determine the equation of the estimated regression line. Based on the data, what is the slope of this line?

What is the expected mileage Carlos can drive with 11 gallons?

What is the expected mileage Carlos can drive with 19 gallons?

Solutions

Expert Solution

The estimated regression line

Miles = 6.21584 + 20.3633 * Gallons

The expected mileage Carlos can drive with 11 gallons

= 6.21584 + (20.3633*11)

= 230.212

The expected mileage Carlos can drive with 19 gallons

= 6.21584 + (20.3633*19)

= 393.119

orchestra answered 2 years ago

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