1. The relationship between energy consumption and household income was studied, yielding the following data on household income X (in units of $1000/year) and energy consumption Y.(in units of 10^8 Btu/year). Household income (x) Energy consumption (y) 1.8 3.0 20.0 30.5 40.0 4.8 5.0 6.5 55.1 60.3 7.0 74.9 88.4 9.0 9.1 95.2 a. Estimate the linear regression equation. b. If x=50 (household income of $50,000), estimate the average energy consumed for households of this income. What would your estimate be for a single household?

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1. The relationship between energy consumption and household
income was studied, yielding the following data on household
income X (in units of $1000/year) and energy consumption Y(in
units of 10^8 Btu/year).
Energy
Household income (x)
consumption (y)
20.0
1.8
3.0
30.5
4.8
40.0
55.1
60.3
74.9
88.4
95.2
a. Estimate the linear regression equation.
5.0
6.5
7.0
9.0
9.1
b. If x=50 (household income of $50,000), estimate the average
energy consumed for households of this income. What would
your estimate be for a single household?
Transcribed Image Text:1. The relationship between energy consumption and household income was studied, yielding the following data on household income X (in units of $1000/year) and energy consumption Y(in units of 10^8 Btu/year). Energy Household income (x) consumption (y) 20.0 1.8 3.0 30.5 4.8 40.0 55.1 60.3 74.9 88.4 95.2 a. Estimate the linear regression equation. 5.0 6.5 7.0 9.0 9.1 b. If x=50 (household income of $50,000), estimate the average energy consumed for households of this income. What would your estimate be for a single household?
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