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The Following MINITAB Output Presents the Lest Squares Regression Line  Commodity =43.987621+23.368407 Oil \text { Commodity }=-43.987621+23.368407 \text { Oil }

Question 29

Multiple Choice

The following MINITAB output presents the lest squares regression line for predicting the price of a certain commodity from the price of a barrel of oil. The regression equation is
 Commodity =43.987621+23.368407 Oil \text { Commodity }=-43.987621+23.368407 \text { Oil }


 Predictor  Coef  SE Coef  T  P  Constant 43.98762187.1887050.5045110.640428 Oil 23.3684070.8722142.7153960.05324\begin{array}{lrrrr}\text { Predictor } & \text { Coef } & \text { SE Coef } & \text { T } & \text { P } \\\text { Constant } & -43.987621 & 87.188705 & -0.504511 & 0.640428 \\\text { Oil } & 23.368407 & 0.872214 & 2.715396 & 0.05324 \\\hline\end{array}

Predict the commodity price when the oil price is $114 per barrel.


A) $215
B) $226
C) $249
D) $170

Correct Answer:

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