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Chapter 3: Q.27 (page 162)

You have data for many years on the average price of a barrel of oil and the average retail price of a gallon of unleaded regular gasoline. If you want to see how well the price of oil predicts the price of gas, then you should make a scatterplot with ______ as the explanatory variable.

(a) the price of oil

(b) the price of gas

(c) the year

(d) either oil price or gas price

(e) time

Short Answer

Expert verified

The correct option is A (the price of oil).

Step by step solution

01

Given Information

You have data for many years on the average price of a barrel of oil and the average retail price of a gallon of unleaded regular gasoline. If you want to see how well the price of oil predicts the price of gas, then you should make a scatterplot with ______ as the explanatory variable.

02

Explanation

Make the variable you want to be the "predictor" the explanatory variable if you want to examine how well one variable predicts another in a scatterplot.

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