Question 14 (2 + 2 = 4 marks) 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: 1 2 4 4 5 6 0 8 Temp(C) 26 31 25 26 14 20 16 34 Max Electricity Consumption | 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 n= 8 Multiple R 0.895 X = 24 R Square 0.801 y= 32 Adjusted R Square 0.768 s = 48.29 Standard Error 4.862 s?y = 101.71 Observations 8 Sxy = -62.7143 Coech:ent Stgrg;rd t Stat Pevais Intercept 63.172 6.575 9.607 0.000 temp(C) -1.299 0.264 -4.911 0.003 (a) Find the least squares regression line to predict the electricity consumption from the maximum temperature. (b) Predict the electricity consumption of the office when the maximum temperature is 30C