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Regression (fuel efficiency)

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    Student learning outcomes

  • The student will calculate and construct the line of best fit between two variables.
  • The student will evaluate the relationship between two variables to determine if that relationship is significant.

Collect the data

Use the most recent April issue of Consumer Reports. It will give the total fuel efficiency (in miles per gallon) and weight (in pounds) of new model cars with automatic transmissions. We will use this data to determine the relationship, if any, between the fuel efficiency of a car and its weight.

  1. Using your random number generator, randomly select 20 cars from the list and record their weights and fuel efficiency into [link] .
    Weight Fuel Efficiency
  2. Which variable should be the dependent variable and which should be the independent variable? Why?
  3. By hand, do a scatterplot of “weight” vs. “fuel efficiency”. Plot the points on graph paper. Label both axes with words. Scale both axes accurately.
    Blank graph with vertical and horizontal axes.

Analyze the data

Enter your data into your calculator or computer. Write the linear equation, rounding to 4 decimal places.

  1. Calculate the following:
    1. a = ______
    2. b = ______
    3. correlation = ______
    4. n = ______
    5. equation: ŷ = ______
  2. Obtain the graph of the regression line on your calculator. Sketch the regression line on the same axes as your scatter plot.

    Discussion questions

  1. Is the correlation significant? Explain how you determined this in complete sentences.
  2. Is the relationship a positive one or a negative one? Explain how you can tell and what this means in terms of weight and fuel efficiency.
  3. In one or two complete sentences, what is the practical interpretation of the slope of the least squares line in terms of fuel efficiency and weight?
  4. For a car that weighs 4,000 pounds, predict its fuel efficiency. Include units.
  5. Can we predict the fuel efficiency of a car that weighs 10,000 pounds using the least squares line? Explain why or why not.
  6. Answer each question in complete sentences.
    1. Does the line seem to fit the data? Why or why not?
    2. What does the correlation imply about the relationship between fuel efficiency and weight of a car? Is this what you expected?
  7. Are there any outliers? If so, which point is an outlier?

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
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Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
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