12 May Calculate the mean yearly value using
Calculate the mean yearly value using the average gas prices by month found in the “Final Project Data Set.” 2. Using the years as your x-axis and the annual mean as your y-axis, create a scatterplot and a linear regression line. 3. Answer the following questions using your scatterplot and linear regression line: o What is the slope of the linear regression line? o What is the Y-intercept of the linear regression line? o What is the equation of the linear regression line in slope-intercept form? o Based on the linear regression line, what would be an estimated cost of gas in the year 2020? o What are the residuals of each year? o Select a current price that you have seen or paid recently for gas. Is that price within the range of the linear regression line or is it an outlier? Is it within the confidence interval of 5% or either end? Series Id: APU000074714 Area: U.S. city average Item: Gasoline, unleaded regular, per gallon/3.785 liters Years: 1982 to 2011 Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 1982 1.358 1.334 1.284 1.225 1.237 1.309 1.331 1.323 1.307 1.295 1.283 1.26 1983 1.23 1.187 1.152 1.215 1.259 1.277 1.288 1.285 1.274 1.255 1.241 1.231 1984 1.216 1.209 1.21 1.227 1.236 1.229 1.212 1.196 1.203 1.209 1.207 1.193 1985 1.148 1.131 1.159 1.205 1.231 1.241 1.242 1.229 1.216 1.204 1.207 1.208 1986 1.194 1.12 0.981 0.888 0.923 0.955 0.89 0.843 0.86 0.831 0.821 0.823 1987 0.862 0.905 0.912 0.934 0.941 0.958 0.971 0.995 0.99 0.976 0.976 0.961 1988 0.933 0.913 0.904 0.93 0.955 0.955 0.967 0.987 0.974 0.957 0.949 0.93 1989 0.918 0.926 0.94 1.065 1.119 1.114 1.092 1.057 1.029 1.027 0.999 0.98 1990 1.042 1.037 1.023 1.044 1.061 1.088 1.084 1.19 1.294 1.378 1.377 1.354 1991 1.247 1.143 1.082 1.104 1.156 1.16 1.127 1.14 1.143 1.122 1.134 1.123 1992 1.073 1.054 1.058 1.079 1.136 1.179 1.174 1.158 1.158 1.154 1.159 1.136 1993 1.117 1.108 1.098 1.112 1.129 1.13 1.109 1.097 1.085 1.127 1.113 1.07 1994 1.043 1.051 1.045 1.064 1.08 1.106 1.136 1.182 1.177 1.152 1.163 1.143 1995 1.129 1.12 1.115 1.14 1.2 1.226 1.195 1.164 1.148 1.127 1.101 1.101 1996 1.129 1.124 1.162 1.251 1.323 1.299 1.272 1.24 1.234 1.227 1.25 1.26 1997 1.261 1.255 1.235 1.231 1.226 1.229 1.205 1.253 1.277 1.242 1.213 1.177 1998 1.131 1.082 1.041 1.052 1.092 1.094 1.079 1.052 1.033 1.042 1.028 0.986 1999 0.972 0.955 0.991 1.177 1.178 1.148 1.189 1.255 1.28 1.274 1.264 1.298 2000 1.301 1.369 1.541 1.506 1.498 1.617 1.593 1.51 1.582 1.559 1.555 1.489 2001 1.472 1.484 1.447 1.564 1.729 1.64 1.482 1.427 1.531 1.362 1.263 1.131 2002 1.139 1.13 1.241 1.407 1.421 1.404 1.412 1.423 1.422 1.449 1.448 1.394 2003 1.473 1.641 1.748 1.659 1.542 1.514 1.524 1.628 1.728 1.603 1.535 1.494 2004 1.592 1.672 1.766 1.833 2.009 2.041 1.939 1.898 1.891 2.029 2.01 1.882 2005 1.823 1.918 2.065 2.283 2.216 2.176 2.316 2.506 2.927 2.785 2.343 2.186 2006 2.315 2.31 2.401 2.757 2.947 2.917 2.999 2.985 2.589 2.272 2.241 2.334 2007 2.274 2.285 2.592 2.86 3.13 3.052 2.961 2.782 2.789 2.793 3.069 3.02 2008 3.047 3.033 3.258 3.441 3.764 4.065 4.09 3.786 3.698 3.173 2.151 1.689 2009 1.787 1.928 1.949 2.056 2.265 2.631 2.543 2.627 2.574 2.561 2.66 2.621 2010 2.731 2.659 2.78 2.858 2.869 2.736 2.736 2.745 2.704 2.795 2.852 2.985
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