Solution-Estimate the regression model

Estimate the regression model

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Reference no: EM133167715

Cost	Ave Temp	Work Days	Tons Produced
24100	26	24	80
23700	32	21	73
26800	46	24	90
27400	61	23	69
30200	66	24	75
31500	73	23	80
30100	81	24	82
29500	85	24	80
26800	76	23	78
27500	61	24	79
28900	51	23	75
26000	39	22	69

- Use Excel to estimate the regression model.

- Are the signs of the regression coefficients as expected? If not, speculate as to why this could be the case.

- What is the predicted electricity cost in a month during which the average outdoor temperature is 65°, there are 23 working days, and 76 tons are produced?

Reference no: EM133167715

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Estimate the regression model

Reference no: EM133167715

Reference no: EM133167715

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