Here is a table of data for the car plant electricity usage. The manager of a car
Question:
Here is a table of data for the car plant electricity usage. The manager of a car plant wishes to investigate the relation between the plant's electricity usage and the plant's production. Month Production ($ millions) Electricity usage (million kWh) Jan 4.53 2.49 Feb 3.56 2.23 March 4.34 2.51 April 5.06 2.77 May 5.71 3.01 June 4.99 3.05 July 5.29 3.28 Aug 5.83 3.48 Sep 4.76 3.13 Oct 5.61 3.26 Nov 4.96 2.73 Dec 4.23 2.62 3.1. Suppose we try to build a linear regression model, say y = 0 + 1x, based on the data above, where y denotes the Electricity usage and x denotes the Production. Please find (a) the least square estimates of 0 and 1; (b) the Sample Correlation Coefficient rX,Y. 3.2. Suppose we try to build a linear regression model, say y = 0 +1x, where y denotes the Production and x denotes the Electricity usage. Note the role of x and y are reversed compared to 3.1. Please find (a) the least square estimates of 0 and 1; (b) the Sample Correlation Coefficient rX,Y. Please share all the steps