To complete this project, use the “Final Project Data Set” found in your eCollege classroom in the Final Project description. (this information is listed below)
PART I:
1. Calculate the mean yearly value using the average gas prices by month found in the “Final Project Data Set.”
2. Using the years as your x-axis and the annual mean as your y-axis, create a scatterplot and a linear regression line.
3. Answer the following questions using your scatterplot and linear regression line:
? What is the slope of the linear regression line?
? What is the Y-intercept of the linear regression line?
? What is the equation of the linear regression line in slope-intercept form?
? Based on the linear regression line, what would be an estimated cost of gas in the year 2020?
? What are the residuals of each year?
? Select a current price that you have seen or paid recently for gas. Is that price within the range of the linear regression line or is it an outlier? Is it within the confidence interval of 5% or either end?
PART II:
Imagine that you are a manager at a delivery service and you are creating a report to project the effects on your company of rising gas prices in the next ten years. Using the preceding statistical analysis as your basis and outside scholarly resources to support your claims, write a 3 to 5 page paper interpreting the results from this perspective. Include the following considerations:
1. Introduce the project and its significance to the company.
2. Explain the statistical analysis that you completed in Part I. Be sure to explain where the data came from, what analysis was done, and what the results were.
3. Give conclusions that you have drawn from the data. Consider the effects of your gas price predictions on the delivery business. Also consider whether or not you believe your predicted gas prices are accurate. What could occur in the future that would change your linear regression line and therefore your prediction?
Writing the Final Project??The Final Project:
1. Part I must be provided as an Excel spreadsheet. It must be complete and show all work, not just a final amount or answer
2. Part II must be 3 to 5 double-spaced pages in length, and formatted according to APA style as outlined in the Ashford Writing Center
3. Must include a title page with the following:?a. Title of paper?b. Student’s name?c. Course name and number?d. Instructor’s name?e. Date submitted
4. Must include an introductory paragraph with a succinct thesis statement
5. Must address the topic of the paper with critical thought
6. Must conclude with a restatement of the thesis and a conclusion paragraph
7. Must use at least 3 scholarly resources, including a minimum of 2 from the Ashford Online Library
8. Must document all sources in APA style, as outlined in the Ashford Writing Center
9. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center
Consumer Price Index – Average Price Data
Original Data Value
Series Id: APU000074714
Area: U.S. city average
Item: Gasoline, unleaded regular, per gallon/3.785 liters
Years: 1982 to 2011
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Annual Mean
1982 1.358 1.334 1.284 1.225 1.237 1.309 1.331 1.323 1.307 1.295 1.283 1.26 15.546 1.2955
1983 1.230 1.187 1.152 1.215 1.259 1.277 1.288 1.285 1.274 1.255 1.241 1.231 14.894 1.241166667
1984 1.216 1.209 1.210 1.227 1.236 1.229 1.212 1.196 1.203 1.209 1.207 1.193 14.547 1.21225
1985 1.148 1.131 1.159 1.205 1.231 1.241 1.242 1.229 1.216 1.204 1.207 1.208 14.421 1.20175
1986 1.194 1.120 0.981 0.888 0.923 0.955 0.890 0.843 0.860 0.831 0.821 0.823 11.129 0.927416667
1987 0.862 0.905 0.912 0.934 0.941 0.958 0.971 0.995 0.990 0.976 0.976 0.961 11.381 0.948416667
1988 0.933 0.913 0.904 0.930 0.955 0.955 0.967 0.987 0.974 0.957 0.949 0.930 11.354 0.946166667
1989 0.918 0.926 0.940 1.065 1.119 1.114 1.092 1.057 1.029 1.027 0.999 0.980 12.266 1.022166667
1990 1.042 1.037 1.023 1.044 1.061 1.088 1.084 1.190 1.294 1.378 1.377 1.354 13.972 1.164333333
1991 1.247 1.143 1.082 1.104 1.156 1.160 1.127 1.140 1.143 1.122 1.134 1.123 13.681 1.140083333
1992 1.073 1.054 1.058 1.079 1.136 1.179 1.174 1.158 1.158 1.154 1.159 1.136 13.518 1.1265
1993 1.117 1.108 1.098 1.112 1.129 1.130 1.109 1.097 1.085 1.127 1.113 1.070 13.295 1.107916667
1994 1.043 1.051 1.045 1.064 1.080 1.106 1.136 1.182 1.177 1.152 1.163 1.143 13.342 1.111833333
1995 1.129 1.120 1.115 1.140 1.200 1.226 1.195 1.164 1.148 1.127 1.101 1.101 13.766 1.147166667
1996 1.129 1.124 1.162 1.251 1.323 1.299 1.272 1.240 1.234 1.227 1.250 1.260 14.771 1.230916667
1997 1.261 1.255 1.235 1.231 1.226 1.229 1.205 1.253 1.277 1.242 1.213 1.177 14.804 1.233666667
1998 1.131 1.082 1.041 1.052 1.092 1.094 1.079 1.052 1.033 1.042 1.028 0.986 12.712 1.059333333
1999 0.972 0.955 0.991 1.177 1.178 1.148 1.189 1.255 1.280 1.274 1.264 1.298 13.981 1.165083333
2000 1.301 1.369 1.541 1.506 1.498 1.617 1.593 1.510 1.582 1.559 1.555 1.489 18.120 1.51
2001 1.472 1.484 1.447 1.564 1.729 1.640 1.482 1.427 1.531 1.362 1.263 1.131 17.532 1.461
2002 1.139 1.130 1.241 1.407 1.421 1.404 1.412 1.423 1.422 1.449 1.448 1.394 16.290 1.3575
2003 1.473 1.641 1.748 1.659 1.542 1.514 1.524 1.628 1.728 1.603 1.535 1.494 19.089 1.59075
2004 1.592 1.672 1.766 1.833 2.009 2.041 1.939 1.898 1.891 2.029 2.010 1.882 22.562 1.880166667
2005 1.823 1.918 2.065 2.283 2.216 2.176 2.316 2.506 2.927 2.785 2.343 2.186 27.544 2.295333333
2006 2.315 2.310 2.401 2.757 2.947 2.917 2.999 2.985 2.589 2.272 2.241 2.334 31.067 2.588916667
2007 2.274 2.285 2.592 2.860 3.130 3.052 2.961 2.782 2.789 2.793 3.069 3.020 33.607 2.800583333
2008 3.047 3.033 3.258 3.441 3.764 4.065 4.090 3.786 3.698 3.173 2.151 1.689 39.195 3.26625
2009 1.787 1.928 1.949 2.056 2.265 2.631 2.543 2.627 2.574 2.561 2.660 2.621 28.202 2.350166667
2010 2.731 2.659 2.780 2.858 2.869 2.736 2.736 2.745 2.704 2.795 2.852 2.985 33.450 2.7875
2011 3.091 3.167 6.258 0.5215