Math Problem Statement
A U.S. state's Bureau of Economic Geology published a study on the economic impact of using carbon dioxide enhanced oil recovery (EOR) technology to extract additional oil from fields that have reached the end of their conventional economic life. The following table gives the approximate number of jobs for the citizens that would be created at various levels of recovery.
Percent Recovery (%)
20
40
80
100
Jobs Created (Millions)
5
8
11
17
Find the regression line.
j(r) = Use the regression line to estimate the number of jobs (in millions) that would be created at a recovery level of 60%.
million jobs
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Regression
Algebra
Statistics
Formulas
Linear regression formula: j(r) = a + b * r
Slope formula: b = (n * Σ(r * j) - Σr * Σj) / (n * Σr^2 - (Σr)^2)
Y-intercept formula: a = (Σj - b * Σr) / n
Theorems
Linear regression calculation
Suitable Grade Level
Grades 10-12
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