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An electric utility wishes to examine the relationship between temperature
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An electric utility wishes to examine the relationship between temperature and electricity use in its service region during the summer months. The bivariate data below give the maximum data temperature (denoted by x, in degrees Fahrenheit) and the electricity use (denoted by y, in thousands of kilowatt hours) for a random sample of 15 summer days. The data are shown in Figure 1 scatter plot.
The least-squares regression line for these data has a slope of approximately 2.65.
Answer the following. Carry your intermediate computations to at least 4 decimal places, and round your answers as specified below.
- What is the value of the y-intercept of the least-squares regression line for these data? Round your answer to at least two decimal places.
- What is the value of the sample correlation coefficient for these data? Round your answer to at least 3 decimal places.
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- Submitted On 14 Jun, 2020 07:54:43
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