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