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QUESTION 1 25 MARKS The Jamaica Public Service (JPS) conducted a study of the demand for electric power over the past 7 years in megawatts

QUESTION 1 25 MARKS The Jamaica Public Service (JPS) conducted a study of the demand for electric power over the past 7 years in megawatts as shown in the printout below. YEAR # ELECTRIC POWER DEMAND (Megawatts) 1 74 2 79 3 80 4 90 5 105 6 142 7 122 a = Ly-bEx n b- nExy-Ex Zy n Ex2-(x)2 nExy-ExEy VnEx -([x)z xvn[y-[y)z USE EQUATIONS above to answer the following question. a) Develop the least square estimated regression equation 8 marks b) Describe the relationship between the variables 5 marks c) Is this model a good predictor. Why ? 7 marks

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