Next, we investigate whether the energy production mainly depends on the electricity supplied. To examine that we carry out a regression model and the results are given in Exhibit 11 below. We define the variables as follows: Dependent variable: total_energy = is the total energy production of different sources (GWh) Independent variable: Electricity supplied = monthly electricity supplied (GWh) i) From Exhibit 11, state the intercept coefficient value. Is it meaningful? Explain. ii) Give an interpretation of the slope coefficient given in Exhibit 11. iii) From the output in the Exhibit 11 above, test if the monthly electricity supply significantly increases the energy production in Australia. Show all the steps and use the p-value approach with 1% level of significance
b) Next, we investigate whether the energy production mainly depends on the electricity supplied.
To examine that we carry out a regression model and the results are given in Exhibit 11 below.
We define the variables as follows:
Dependent variable: total_energy = is the total energy production of different sources (GWh)
Independent variable: Electricity supplied = monthly electricity supplied (GWh)
Is it meaningful? Explain.
ii) Give an interpretation of the slope coefficient given in Exhibit 11.
iii) From the output in the Exhibit 11 above, test if the monthly electricity supply significantly increases the energy production in Australia.
Show all the steps and use the p-value approach with 1% level of significance.
The provided information is as follows:
The regression output of Exhibit 11 is given in the example.
The objective is to analyze the regression output.
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