Question

Quality of all is measured in API gravity degrees--the higher the degrees API, the higher the quality. The table shown below is produced by an expert in the field who believes that there is a relationshp between quity and price per barrel. SO A partial Minitab output follows: Descriptive Statistics Variable Men 34.60 Covariances Deges Regression Analysis Predicto Degrees 5 -0.1314 R-59-92,469 R-Squadil - 9179 Analysis of Variance Source Regression Residual Error Write the fitted regression equation

Answer 1

The fitted regression equation here will be as follows :

Predicted price = a+bx

where a= constant (9.4349 in this case, as mentioned under constant head under regression analysis)

b= slope of independent variable, which is degree in this case (0.095235 in this case, as mentioned under degrees head under regression analysis)

x= value of independent variable.

Hence the equation is

Predicted price =9.4349+0.095235*x