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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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