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.
Solution
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Math Problem Analysis
Mathematical Concepts
Linear Regression
Statistics
Algebra
Formulas
y = mx + b
m = (Σ(xi - x̄)(yi - ȳ)) / Σ(xi - x̄)^2
b = ȳ - m * x̄
Theorems
Linear Regression Formula
Suitable Grade Level
Grades 9-12
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