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Welcome to JACould you please tell me what is x
because if x is the year then the equation becomes
=-127.56+0.06*2020 = -6.36
so the price is negative
Also please check the sign in front of 127.56, is it really negavive?
Let me know please, I'll be glad to assist.
x is the year
the negative number is XXXXX i came up with
the price cant be negative
i can give you the information i used to get it if that helps
the years were 1982 - 2011
and the prices per year were as follows
in order avereages per year
the regression I came up with is
in this case if you plugin 2020
hope this helps
if that is the case what are the residuals for each year?
the residuals are
oh sorry I copied the wrong column
here is the correct version
if 2.50 is the price of gas today, is that within the confidence interval of 5% on either end?