Question: Dancer Company has noticed that utility bills are substantially higher when the average monthly temperature is colder. The only thing in the shop that uses

Dancer Company has noticed that utility bills are substantially higher when the average monthly temperature is colder. The only thing in the shop that uses natural gas is the furnace. Because of prevailing low temperatures, the furnace is used every month of the year (though less in the summer months and very little in August). Everything else in the shop runs on electricity, and electricity use is fairly constant throughout the year. For a year, Dancer has been recording the average daily temperature and the cost of its monthly utility bills for natural gas and electricity

Month degree Fahrenheit Utility Cost

January 31 1,760

Feb 41 1,629

March 43 543

April 44 410

May 46 275

June 50 233

July 53 220

Aug 60 210

Sept 50 305

Oct 40 530

Nov 30 750

Dec 10 870

Using Excel find the regression equation for estimating the cost of utilities. You may calculate the simple linear regression from the charting function, the Excel formulas, or the regression function in the analysis toolpak.

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