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Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel.
Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collected and a regression analysis prepared using Excel. The monthly data and the regression output follow:
Month Machine Hours Electricity Costs
January $
February
March
April
May
June
July
August
September
October
November
December
Summary Output
Regression Statistics
Multiple R
R Square
Adjusted R
Standard Error
Observations
Coefficients Standard Error t Stat Pvalue Lower Upper
Intercept
Machine Hours
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