Question

a. Find the quartic equation describing the model. Round to three decimal places.

b. Complete the table provided with the predicted oil imports from OPEC, and the error. Use the unrounded model.

c. Find the average error for the model. Use the unrounded model.

d. The scatter plot of the data is shown. Sketch the graph of the model showing how it relates to the scatter plot.

e. Using the unrounded model, what would be the predicted oil imports from OPEC for the year 1997 and 2025, respectively?

2. Repeat all parts of question 1 using the quartic regression model (QuartReg) again with x -0 in 1980. a QuartReg y usand barrels per day where x-0 in 1980 Year Error Oil Imports Predicted from OPEC Oil Imports from OPEC 6000 (Differences irn Actual and Predicted) 1980 1985 1990 1995 4300 1830 4296 4002 5203 5508 4906 2000 3 2010 0 5 10 15 20 25 30 35 Average error Predicted oil imports from OPEC for 1997 thousand barrels per day e. Predicted oil imports from OPEC for 2025: thousand barrels per day

Answer 1

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aice, the Predicted valne s e- Lg: 2919 1980 1360 3572 2932 465 50 (2 6312 935 1970 |-4296 369 0 y96 2olo 466 し(906 The avenge E γ 7 Total Absolute oo A97 1

1) The Pxedicted0yoession line an Scattered data.

2000 S 20 25 35 Figure

olos ผู้'( 3212 +72x 97 1930) u6 hasans Res day 321272) 6452 tHhagnd baorely