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

question 22

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
$$\text { Commodity }=-43.987621+23.368407 \text { Oil }$$


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

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

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

---

Definitions:

Close

To complete, finalize, or bring an activity or process to an end, ensuring all requirements have been met.

Longitudinal Method

A research design in which the same individuals are examined over a period of time, allowing for the observation of changes or development.

Cross-sectional Tests

Research methods or examinations conducted at a specific point in time to analyze data from a population or a representative subset.

Different Times

Moments or periods that are not the same, varying in many possible ways such as duration, significance, or point in history.