Required:\ Estimate the fixed and variable components of historic electricity bills. Record your estimates in the excel file under the tab "Budget - 2024".\ a. Typically, electricity bills have two components:\ i. Fixed delivery charge that does not vary with consumption.\ ii. Variable rate per kilowatt hour

(kWh)

.\ Use the above estimates to forecast monthly electricity costs for 2024 . You've been provided with estimated usage in the excel file under the tab "Budget -2024 ". Record your estimates in the table " 2024 Forecast - 1 ".\ The months May, June, July, and August are considered peak months. This means that electricity generally costs more during these months. You are required to estimate whether the higher cost is usage-based only, or if the delivery charge is higher during peak months also. Record your estimates in the excel file under the tab "Budget - 2024 ".\ Produce a second set of monthly forecasts for 2024 using the updated costs you calculated in requirement 3. Record your estimates in the table "2024 Forecast - 2".\ Note: Do not delete any observation in the dataset. You must use all the data in your analyses. Ignore p-values and statistical significance.\ Record your answers in the excel workbook in the tab "Budget - 2024". You must show all your work within excel. You MUST submit your excel file to Moodle by 10:15 am.

1) Estimate the fixed and variable components of historic electricity bills. Record your estimates in the excel file under the tab "Budget - 2024". a. Typically, electricity bills have two components: i. Fixed delivery charge that does not vary with consumption. ii. Variable rate per kilowatt hour (kWh). 2) Use the above estimates to forecast monthly electricity costs for 2024 . You've been provided with estimated usage in the excel file under the tab "Budget - 2024". Record your estimates in the table "2024 Forecast - 1". 3) The months May, June, July, and August are considered peak months. This means that electricity generally costs more during these months. You are required to estimate whether the higher cost is usage-based only, or if the delivery charge is higher during peak months also. Record your estimates in the excel file under the tab "Budget - 2024 ". 4) Produce a second set of monthly forecasts for 2024 using the updated costs you calculated in requirement 3. Record your estimates in the table "2024 Forecast - 2 ". Note: Do not delete any observation in the dataset. You must use all the data in your analyses. Ignore p-values and statistical significance. Record your answers in the excel workbook in the tab "Budget - 2024". You must show all your work within excel. You MUST submit your excel file to Moodle by 10:15 am. 1) Estimate the fixed and variable components of historic electricity bills. Record your estimates in the excel file under the tab "Budget - 2024". a. Typically, electricity bills have two components: i. Fixed delivery charge that does not vary with consumption. ii. Variable rate per kilowatt hour (kWh). 2) Use the above estimates to forecast monthly electricity costs for 2024 . You've been provided with estimated usage in the excel file under the tab "Budget - 2024". Record your estimates in the table "2024 Forecast - 1". 3) The months May, June, July, and August are considered peak months. This means that electricity generally costs more during these months. You are required to estimate whether the higher cost is usage-based only, or if the delivery charge is higher during peak months also. Record your estimates in the excel file under the tab "Budget - 2024 ". 4) Produce a second set of monthly forecasts for 2024 using the updated costs you calculated in requirement 3. Record your estimates in the table "2024 Forecast - 2 ". Note: Do not delete any observation in the dataset. You must use all the data in your analyses. Ignore p-values and statistical significance. Record your answers in the excel workbook in the tab "Budget - 2024". You must show all your work within excel. You MUST submit your excel file to Moodle by 10:15 am