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: Day 1 2 3 4 8 Max temp(C) 26 31 25 26 14 16 34 i) Find the least squares regression line to predict electricity consumption based on maximum temperature. ii) Use an appropriate statistical test to determine, at 5% level of signicance, whether there is a significant linear relationship between the maximum temperature and the electricity consumption. iii) Predict the electricity consumption of the office when the maximum temperature is 30C. Comment on your result 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 0395 >7 = 24 R Square 0301 y = 32 Adjusted R Square 0.768 92x = 48.28571 Standard Error 4862 53 = 101 .71429 Observations 3 s).y = -62.71429 Coefcients Standard Error t Stat P-value Intercept 63.172 6.575 9.607 0.000 temp(C) -1 .299 0.264 -4.911 0.003