Question
Hello, please check the excel document (link attached) to answer the following question, all the data needed is in Excel document. https://docs.google.com/spreadsheets/d/1pq6zyY9ZUKH0kVOnYZb1c_-haVAn2NrZ/edit?usp=sharing&ouid=101206559306899920742&rtpof=true&sd=true The Electric Bill
Hello, please check the excel document (link attached) to answer the following question, all the data needed is in Excel document.
https://docs.google.com/spreadsheets/d/1pq6zyY9ZUKH0kVOnYZb1c_-haVAn2NrZ/edit?usp=sharing&ouid=101206559306899920742&rtpof=true&sd=true
The Electric Bill dataset contains monthly household electric billing charges for ten years. In addition, there are values for such potential explanatory variables as temperature, heating and cooling degree days, number in household, and indicator variables for a new electric meter and new heat pumps. With knowledge of the utility's tiered rate function, the bill amount can be converted to an estimate of the number of kilowatt hours used. However estimated consumption in kwh is given in column M. The variable of primary interest is the dollar amount of the monthly electric bill. Billing amounts at this utility are based on: a connection charge, a tiered tariff function, and a collection of as many as eight riders that apply to all kilo watt hours used. Riders are amounts approved by the state utility rate commission to compensate for items such as fuel costs, environmental issues, and capital recovery. Positive amounts reflect additional costs passed to the consumer. Negative amounts indicate rebates. The variable RIDER TOTAL shows the net amount for each month.
2)
a) Construct a frequency histogram for the calculated "Consumption" using 14 classes, considering the shape show your answer for central location and spread.
b) Using the graph in a) show the "Consumption" electricity modal class.
c) Approximately what percentages of the customers consume between 2500 and 4500 kwh of electricity?
d) What is the ratio between those consumers who received rebates to those who pay additional costs?
e) XYZ Energy Company is willing to provide a further rebate on the additional costs to the 5% of consumers with the highest levels of energy consumption. What would be the cutoff value, in terms of energy consumption, for consumers to obtain the rebate?
f) Show if there is a relationship between Temperature and Consumption electricity and explain it.
Instructions :
Do necessary math calculations.
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