Question: Forecasting is the process of making statements about events whose actual outcomes have not yet been observed. According to the project requirements, students are required

Forecasting is the process of making statements

Forecasting is the process of making statements about events whose actual outcomes have not yet been observed. According to the project requirements, students are required to use the linear regression method to forecast the data given in the table by using the Minitab software.

Method 13 300 16 000 18 700 21 400 29 500 32 200 34 900 37 600 Production (Unit) 24 100 26 800 Gas Consumption (Litre) 232.2970 229.5390 232.8839 238.4592 235.8614 241.9799 1 2 249.0562 265.5007 252.5533 247.5411 255.1821 249.0262 235.8025 247.1343 239.1180 225.5874 240.9569 249.4364 239.1068 244.2917 241.0704 229.0127 228.5261 239.9378 230.3452 257.4552 243.3869 236.8270 243.4669 242.3438 3 Project Requirements: 1) Compute , , x?, y, and xy. 2) Compute the value of the slope of the regression line. 3) Compute the value of the y-intercept. 4) Compute the value of the coefficient of correlation and state your interpretation. 5) Compute the value of the square of the correlation coefficient and state your interpretation

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