(i) Find the least squares regression line to predict the electricity consumption from the maximum temperature. (ii) Predict the electricity consumption of the office when the maximum temperature is...

Extracted text: (i) Find the least squares regression line to predict the electricity consumption from the maximum temperature. (ii) Predict the electricity consumption of the office when the maximum temperature is 30°C. How confident are you in this prediction?


Extracted text: Question 4 - Type Your Answers in Space Provided (a) An accountant wishes to undertake a cost analysis of electricity consumption of office heating for various maximum daily temperatures. He recorded the data over a period of 8 random days, as shown below: 2 3 4 5 6 8 Temp(°C) Max Electricity Consumption 26 31 25 26 14 20 16 34 35 20 37 24 42 41 40 17 You may use the following Excel print-outs or summary statistics provided to answer the questions. SUMMARY OUTPUT SUMMARY STATISTICS Regression Statistics Multiple R R Square Adjusted R Square Standard Error n = 8. 0.895 24 0.801 32 0.768 s2x = 48.29 4.862 s?y = 101.71 %3! Observations 8 Sxy = -62.7143 Coefficient Standard Error t Stat P-value 6.575 Intercept temp(°C) 63.172 9.607 0.000 -1.299 0.264 -4.911 0.003 Find the least squares regression line to predict the electricity consumption from the maximum temperature.