You are given the following information on the price of diesel and the price of crude oil: Descriptive Measure Diesel Pr

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You are given the following information on the price of diesel and the price of crude oil: Descriptive Measure Diesel Pr

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You Are Given The Following Information On The Price Of Diesel And The Price Of Crude Oil Descriptive Measure Diesel Pr 1
You Are Given The Following Information On The Price Of Diesel And The Price Of Crude Oil Descriptive Measure Diesel Pr 1 (35.68 KiB) Viewed 76 times
You are given the following information on the price of diesel and the price of crude oil: Descriptive Measure Diesel Price Oil Price Mean 1.973 0.989 Standard Deviation 1.044 0.688 Covariance 0.698 a. Calculate the sample correlation coefficient. Interpret the result. b. Calculate the least squares/egression slope and intercept using oil price as the independent (x) variable. Interpret the slope and intercept. C. The current price of oil is 1.606. Calculate the predicted price of diesel using this price of oil. d. Find the change in the price of diesel if the price of oil increases to 1.75.
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