1. The electric power consumed each month by a chemical plant is thought to be related to the average ambient temperatur

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1 The Electric Power Consumed Each Month By A Chemical Plant Is Thought To Be Related To The Average Ambient Temperatur 1 (59.51 KiB) Viewed 106 times

1. The electric power consumed each month by a chemical plant is thought to be related to the average ambient temperature (x), the number of days in the month (X2) and the tons of product produced (X3). The past years historical data are available and are presented in the following table: X] y 240 236 270 274 301 316 300 296 267 276 288 261 30 31 45 60 65 72 80 84 75 60 50 38 X2 24 25 24 25 25 26 25 25 24 25 25 23 X3 100 95 110 88 94 105 97 100 110 105 100 98 a.) Fit a multiple linear regression model for electricity consumption and analyze the adequacy of the model using the coefficient of determination (R2). b.) Predict the monthly electricity consumption of the plant when x:= 24 °C, X2 = 24 days and X3 = 90 tons. c.) Construct the correlation matrix including four variables (electricity consumption, the average ambient temperature, the number of days in the month, the tons of product produced) and interpret the correlation coefficients between the variables