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In a bid to understand the consumption habits of different households, a power company randomly collects data from 101 customers. The two data points collected
In a bid to understand the consumption habits of different households, a power company randomly collects data from 101 customers. The two data points collected are : the household's electricity bill per year(in dollars) and home size (in square feet). See below a summary of the Output from a regression analysis :
Predictor | Coefficient | Coefficient Standard Error |
Constant | 15 | 3 |
Home size | 0.55 | 0.24 |
i) What is the Regression equation ? ii)Is there a significant linear relationship between annual bill and home size? Use a 5% level of significance.
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