Least square method to find regression

Assignment Help Basic Statistics

Reference no: EM1395874

Consumption Temperature

126 30

132 25

114 29

87 42

67 48

50 61

39 69

45 78

39 72

43 62

61 45

92 36

123 27

121 33

138 28

99 39

64 47

52 63

49 69

41 73

44 70

53 64

59 53

118 27

The owner of a single-family home would like to develop a model to predict electricity consumption in his house, based on average atmospheric temperature in degrees Fahrenheit.

Monthly kilowatt usage and temperature data are available for a period of 24 months

1.) Assume a linear relationship, use the least square method to find the regression coefficients bo and b1

2.) Predict the mean kilowatt usage when the average temperature is 50 degrees Fahrenheit.

3.) Compute the Durbin-Watson statistic. At the 0.05significance level, is there evidence of autocorrelation among the residuals?

Reference no: EM1395874

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