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In an effort to assist with annual electricity costs ($000), a large number of households in Australia have installed solar panels. To investigate this, a
In an effort to assist with annual electricity costs ($000), a large number of households in Australia have installed solar panels. To investigate this, a researcher took a random sample of households recording the annual electricity cost and the number of solar panels per household. Excel was used to create a simple linear regression of annual electricity cost against solar panels, with a portion of the regression output provided here: Regression statistics Multiple R 0.97 R square 0.9409 Observations 258 Coefficients Standard Error Intercept 2.68 7.78 Solar panels -0.43 2.04 State the correlation coefficient. Please give your answer correctly rounded to two decimal places.The manager of a store is trying to estimate the weekly number of televisions sold based on the price ($) of the television. Excel was used to investigate the potential linear relationship between these two variables. A section of the summary output is provided below: Regression statistics Multiple R 0.80 R square 0.64 Observations 20 Coefficients Standard Error Intercept 0.98 0.02 Price -0.04 0.00 Say, in one particular week, this store sold 35 televisions that had a price of $1064. What is the residual number of television's sold for a price of $1064? Please give your answer correct to two decimal places. Do NOT include units
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