The Following Table Gives the US Domestic Oil Production RatesDoes the Residual Plot Suggest That the Regression Equation Is

The Answer of The Following Table Gives the US Domestic Oil Production RatesDoes the Residual Plot Suggest That the Regression Equation Is

The Following Table Gives the US Domestic Oil Production RatesDoes the Residual Plot Suggest That the Regression Equation Is

The Answer of The Following Table Gives the US Domestic Oil Production RatesDoes the Residual Plot Suggest That the Regression Equation Is

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The Following Table Gives the US Domestic Oil Production Rates

question 17

Essay

The following table gives the US domestic oil production rates (excluding Alaska) over the past few years. A regression equation was fit to the data and the residual plot is shown below. $\begin{array} { l } \begin{array}{c|c}\text { Year } & \text { Millions of barrels per day } \\\hline 1987 & 6.39 \\1988 & 6.12 \\1989 & 5.74 \\1990 & 5.58 \\1991 & 5.62 \\1992 & 5.46 \\1993 & 5.26 \\1994 & 5.10\end{array}&\begin{array}{c|c}\text { Year } & \text { Millions of barrels per day } \\\hline 1995 & 5.08 \\1996 & 5.07 \\1997 & 5.16 \\1998 & 5.08 \\1999 & 4.83 \\2000 & 4.85 \\2001 & 4.84 \\2002 & 4.83\end{array}\end{array}$

$The following table gives the US domestic oil production rates (excluding Alaska) over the past few years. A regression equation was fit to the data and the residual plot is shown below. \begin{array} { l } \begin{array}{c|c} \text { Year } & \text { Millions of barrels per day } \\ \hline 1987 & 6.39 \\ 1988 & 6.12 \\ 1989 & 5.74 \\ 1990 & 5.58 \\ 1991 & 5.62 \\ 1992 & 5.46 \\ 1993 & 5.26 \\ 1994 & 5.10 \end{array}&\begin{array}{c|c} \text { Year } & \text { Millions of barrels per day } \\ \hline 1995 & 5.08 \\ 1996 & 5.07 \\ 1997 & 5.16 \\ 1998 & 5.08 \\ 1999 & 4.83 \\ 2000 & 4.85 \\ 2001 & 4.84 \\ 2002 & 4.83 \end{array}\end{array} Does the residual plot suggest that the regression equation is a bad model? Why or why not?$
Does the residual plot suggest that the regression equation is a bad model? Why or why
not?

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