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 |
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