data is below
suppose the fuel consumption cost is $25 per unit. Give a point estimate (single value) for the change in the average cost of fuel per mile for each additional rail car attached to a train. Show your work.
regression equation: 10.7 + 2.5 railcars
so y intercept 10.667 and slope is 2.1495... std dev is 5.157 but i dont think you need that...
if you need the data table its
number of railcars | fuel consuption (units/mi)
20 | 58
20 | 52
37 | 91
31 | 80
47 | 114
43 | 98
39 | 87
50 | 112
40 | 100
29 | 70
yes, i check the residplot and it looks like a good representation of the data... i just dont get the equation..
is it 25x? x being the slope? or am i completly off?
suppose the fuel consumption cost is $25 per unit. Give a point estimate (single value) for the change in the average cost of fuel per mile for each additional rail car attached to a train. Show your work.
regression equation: 10.7 + 2.5 railcars
so y intercept 10.667 and slope is 2.1495... std dev is 5.157 but i dont think you need that...
if you need the data table its
number of railcars | fuel consuption (units/mi)
20 | 58
20 | 52
37 | 91
31 | 80
47 | 114
43 | 98
39 | 87
50 | 112
40 | 100
29 | 70
yes, i check the residplot and it looks like a good representation of the data... i just dont get the equation..
is it 25x? x being the slope? or am i completly off?
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Because the 2nd column you have is fuel consumption, you need to multiply each value in that column by $25 to find the cost of fuel per mile.
I get the following data:
20 | 1450
20 | 1300
37 | 2275
31 | 2000
47 | 2850
43 | 2450
39 | 2175
50 | 2800
40 | 2500
29 | 1750
The regression equation for this data is:
y-hat = 50.05x + 373.18
Therefore, the answer is $50.05. Each additional rail car will add an average fuel cost of $50.05 per mile.
I get the following data:
20 | 1450
20 | 1300
37 | 2275
31 | 2000
47 | 2850
43 | 2450
39 | 2175
50 | 2800
40 | 2500
29 | 1750
The regression equation for this data is:
y-hat = 50.05x + 373.18
Therefore, the answer is $50.05. Each additional rail car will add an average fuel cost of $50.05 per mile.