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Question: The price of gasoline. Use your results from Exercise to answer these questions.
(a) By how many points did the gasoline price index number change between 1987 and 2007? What percentage change was this?
(b) By how many points did the gasoline price index number change between 1997 and 2007? What percentage change was this?
You see that the point change and the percentage change in an index number are the same if we start in the base period, but not otherwise.
Exercise: The price of gasoline. The yearly average price of unleaded regular gasoline has fluctuated as follows:
1987: $0.95 per gallon
1997: $1.23 per gallon
2007: $2.80 per gallon
Give the gasoline price index numbers (1997 = 100) for 1987, 1997, and 2007.
If you are using the method of least squares for fitting trends in an annual time series containing 25 consecutive yearly values,
Given Figure shows the data along with a fitted quadratic curve that is given by the R function lm. The model posited for this dataset is a quadratic model,.
What did the original solver solution show as the minimum cost per month? What will be the minimum cost per month if Indianapolis is shut down?
A random sample of 16 units gives a sample mean of $89,673.12. Give a 95% confidence interval for the average value of all properties of this kind.
Suppose that a national census later finds that the national average amount of television watched by adults is 16.1 hours per week, and that 48.7% watch the national news every weeknight. In what ways, if any, does this particular city differ from..
The positive correlation between health and income per capita is one of the best-known relations in international development.
Time closely follows a normal distribution with a mean of 500 seconds and a standard deviation of 72 seconds. What percent of kiosk users take between 600 and 720 seconds?
With reference to Example 5, test the null hypothesis σ1 - σ2 = 0 against the alternative hypothesis σ1 - σ2 > 0 at the 0.05 level of significance.
What can you conclude from Chebyshev's theorem about the percentage of adults in the town whose heights are between 57.3 and 77.7 inches? Please show work.
A random sample of 50 iPhones had an average better life of 5.7 hours. Determine the margin of error (in hours) for the 90% confidence interval for this sample.
For a simple random sample of n = 36 employees and x = the number of overtime hours worked last year, determine the z-score corresponding to each of the given sample means:
Does that indicate that changes in the concentration of carbon dioxide cause changes in the global temperature? Why or why not?
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