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The local council wishes to develop a model to predict the relationship between prices to install solar panels in dollars and the cost to suppliers.
The local council wishes to develop a model to predict the relationship between prices to install solar panels in dollars and the cost to suppliers. The Excel data file Solar.xIsx, located in the folder LBRT #3 > LBRT #3 Data Files, contains the data for fifty responders that installed solar panels and from fifty suppliers. Use Excel Data Analysis to estimate a linear model for the relationship, as well as a 94% confidence interval for the slope and a residual plot. State all numerical answers below correct to four decimal places using the Excel output results. 1. the intercept 2. the slope coefficient , and 3. the standard error of the estimate 4. Using this model, predict the price of installing a solar panel if the cost is $4.3k for the suppliers. Use all decimal places in your calculation by selecting and using the values of bo and b1 in the output generated by Excel. Note: Write your answer in $'000. 5. Does the prediction involve extrapolationg the relationship? Type yes or no. From the output for 94% confidence interval for the slope coefficient report 6. the lower bound and 7. the upper bound ?
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