- 20 Marks
QT – May 2018 – L1 – Q2 – Forecasting
Develop a regression model for energy consumption based on temperature and calculate the standard error of estimate.
Question
A Ghanaian student studying abroad wants to develop an empirical model for energy consumption (in kilowatts per day) as a function of the daily high temperature (in degrees Celsius) in winter. For nine days the following information was obtained:
| Temperature (°C) | -0.4 | -0.2 | 0.3 | 0.8 | 1.1 | 1.4 | 1.8 | 2.1 | 2.5 |
|---|---|---|---|---|---|---|---|---|---|
| Energy used (kW) | 28 | 30 | 26 | 25 | 26 | 26 | 27 | 26 | 22 |
Required:
a) Identify the response and predictor variables, based on the purpose for developing the regression model. (2 marks)
b) Determine the coefficient of regression and the regression constant. Give your values to 2 decimal places. (5 marks)
c) Interpret your results in b) above. (3 marks)
d) Write the equation of the regression line of energy use on temperature in the form y=a+bxy = a + bx. (2 marks)
e) Estimate the student’s daily energy consumption when the daily high temperature is 2 degrees Celsius. (2 marks)
f) Determine the standard error of estimate. (6 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Energy Consumption, Regression, Standard Error of Estimate, Temperature
- Level: Level 1
- Topic: Forecasting
- Series: MAY 2018