As of 2020, 6.7 million people reside in Victoria, Australia's second most populated state. During 2020 Australia was among the first to close international borders, followed by a closure of interstate borders. Victoria introduced some of the strictest pandemic-related restrictions on business activity that resulted in a significant portion of its population working from home.

You want to investigate whether the household daily electricity demand is dependent on weather (daily temperature, ⁰C). To examine that we carry out a regression model and the results are given in the Exhibit 9.

To do that, we define the variables as follows:

Dependent variable: Demand = household daily electricity demand

Independent variable: Average Temperature = temperature during the day, ⁰C

Exhibit 9 SUMMARY OUTPUT Regression Statistics Multiple R 0.1154683 R Square 0.0133329 Adjusted R Square 0.0128640 Standard Error 13659.281 Observations 2106 ANOVA df SS MS F Significance F Regression 5304642205 5.305E+09 28.43154 1.07E-07 Residual 2104 3.92556E+11 186575947 Total 2105 3.9786E+11 Coefficients Standard Error t Stat P-value Lower 90.0% Upper 90.0% Intercept 125207.81 1014.6703 123.3975 0 123538.1 126877.5 Average Temperature -323.31646 60.635586 -5.33213 1.07E-07 -423.097 -223.536