Question: Construct regression model after examining relationship between electricity usage (KWH) and home size (sq ft.): 1. State estimated regression equation 2. Interpret slope coefficient 3.

Construct regression model after examining relationship between electricity usage (KWH) and home size (sq ft.):

1. State estimated regression equation

2. Interpret slope coefficient

3. Is our model a good predictive model? Why/Why not?

I believe we are using logarithmic regression.

Data:

Home Home Size Monthly Usage
1 1,710 1,571
2 1,290 1,182
3 2,930 1,954
4 2,230 1,840
5 1,840 1,711
6 2,400 1,956
7 1,980 1,804
8 1,470 1,264
9 1,600 1,493
10 1,350 1,172
11 2430 1,946
12 2370 1,707
13 1710 1,503
14 1640 1,692
15 2420 1,956
16 1870 1,684
17 1610 1,431
18 1580 1,453
19 1660 1,547
20 1870 1,753
21 1720 1,815
22 2090 1,778
23 2300 1,816
24 1510 1,276
25 2430 1,936

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!