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STATS Problem - An electric utility company

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Question;An electric utility company tries to estimate the relation between the daily amount of electricity used by customers and thedaily summer temperature. It has collected the data shown in the table below:Temperature 96 89 81 86 83 73 78 74 76Electricity 23.67 21.86 23.28 20.71 18.21 18.85 20.10 18.48 17.941. Set up and estimate the parameters of a linear model that can be used to predict electricity consumption as a function of temperature.2. If the temperature on a given day is 90 degrees, predict the amount of electricity consumed on that day.

 

Paper#61473 | Written in 18-Jul-2015

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