ned by a coutry, of crude ol produced by the country is 5,603 thousand barrels per day. The equation of the regression line is y-1.117x+ 15,844 101. Oif produced, x Dil imported, y 5,822 5,724 5,651 5,449 5,158 5,093 5,008 9,328 9,131 9,667 10,088 10,145 10,199 10.026 Construct and interpret a 90% prediction interval for the amount of crude oil imported when the amount of crude oil produced by the country is 5,603 thousand ba ay Select the correct choice below and fil in the answer boxes to complete your choice. Round to the nearest cent as needed.) DA. There is a 90% chance that the predicted amount of oil imported is between and thousand barrels, when there are 5,603 thousand barrels produc and B. We can be 90% confident that when the amount of oil produced is 5,603 thousand barrels, the amount of oil imported will be between
ned by a coutry, of crude ol produced by the country is 5,603 thousand barrels per day. The equation of the regression line is y-1.117x+ 15,844 101. Oif produced, x Dil imported, y 5,822 5,724 5,651 5,449 5,158 5,093 5,008 9,328 9,131 9,667 10,088 10,145 10,199 10.026 Construct and interpret a 90% prediction interval for the amount of crude oil imported when the amount of crude oil produced by the country is 5,603 thousand ba ay Select the correct choice below and fil in the answer boxes to complete your choice. Round to the nearest cent as needed.) DA. There is a 90% chance that the predicted amount of oil imported is between and thousand barrels, when there are 5,603 thousand barrels produc and B. We can be 90% confident that when the amount of oil produced is 5,603 thousand barrels, the amount of oil imported will be between
Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section1.FOM: Focus On Modeling: Fitting Lines To Data
Problem 10P
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Correlation
Correlation defines a relationship between two independent variables. It tells the degree to which variables move in relation to each other. When two sets of data are related to each other, there is a correlation between them.
Linear Correlation
A correlation is used to determine the relationships between numerical and categorical variables. In other words, it is an indicator of how things are connected to one another. The correlation analysis is the study of how variables are related.
Regression Analysis
Regression analysis is a statistical method in which it estimates the relationship between a dependent variable and one or more independent variable. In simple terms dependent variable is called as outcome variable and independent variable is called as predictors. Regression analysis is one of the methods to find the trends in data. The independent variable used in Regression analysis is named Predictor variable. It offers data of an associated dependent variable regarding a particular outcome.
Question
Transcribed Image Text:The table below shows the amounts of crude oil (in thousands of barrels per day) produced by a country and the amounts of crude oil (in thousands of barrels per day)
imported by a country, for the last seven years. Construct and interpret a 90% prediction interval for the amount of crude oil imported by the this country when the amount
of crude oil produced by the country is 5,603 thousand barrels per day. The equation of the regression line is
Oil produced,x
Oil imported, y
-1117x+ 15,844.101.
5,158
5,093
5,008
10,026
5,822
5.724
5,651
5,449
9,328
9,131
9,667
10,088
10,145
10,199
Construct and interpret a 90% prediction interval for the amount of crude oil imported when the amount of crude oil produced by the country is 5,603 thousand barrels per
day Select the correct choice below and fill in the answer boxes to complete your choice.
(Round to the nearest cent as needed.)
O A. There is a 90% chance that the predicted amount of oil imported is between
thousand barreis, when there are 5,603 thousand barrels produced.
and
O B. We can be 90% confident that when the amount of oil produced is 5,603 thousand barrels, the amount of oil imported will be between
and
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