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# based on the linear regression line what would be an estimated

### Resolved Question:

based on the linear regression line what would be an estimated cost of gas in the year 2020? linear regression line equation is -127.56+0.06x
Submitted: 5 years ago.
Category: Math Homework
Expert:  David replied 5 years ago.

David :

hello

David :

Welcome to JA
Could you please tell me what is x

David :

because if x is the year then the equation becomes

David :

=-127.56+0.06*2020 = -6.36

David :

so the price is negative

David :

David :

Customer:

x is the year

Customer:

the negative number is XXXXX i came up with

Customer:

the price cant be negative

Customer:

i can give you the information i used to get it if that helps

Customer:

the years were 1982 - 2011

Customer:

and the prices per year were as follows

Customer:

 1.296 1.241 1.212 1.202 0.927 0.948 0.946 1.022 1.164 1.14 1.127 1.108 1.112 1.147 1.231 1.234 1.059 1.165 1.51 1.461 1.358 1.591 1.88 2.295 2.589 2.801 3.266 2.35 2.788 3.129
Customer:

in order avereages per year

David :

hi

David :

the regression I came up with is

Customer:

david?

David :

y=0.0647x-127.65

David :

in this case if you plugin 2020

David :

you'll get

David :

3.044

David :

David :

hope this helps

Customer:

if that is the case what are the residuals for each year?

David :

the residuals are

David :

 0.5854 0.6501 0.7148 0.7795 0.8442 0.9089 0.9736 1.0383 1.103 1.1677 1.2324 1.2971 1.3618 1.4265 1.4912 1.5559 1.6206 1.6853 1.75 1.8147 1.8794 1.9441 2.0088 2.0735 2.1382 2.2029 2.2676 2.3323 2.397 2.4617
David :

oh sorry I copied the wrong column

David :

here is the correct version

David :

 0.7106 0.5909 0.4972 0.4225 0.0828 0.0391 -0.0276 -0.0163 0.061 -0.0277 -0.1054 -0.1891 -0.2498 -0.2795 -0.2602 -0.3219 -0.5616 -0.5203 -0.24 -0.3537 -0.5214 -0.3531 -0.1288 0.2215 0.4508 0.5981 0.9984 0.0177 0.391 0.6673
David :

hope this helps

Customer:

if 2.50 is the price of gas today, is that within the confidence interval of 5% on either end?