Peoples Energy INC reported the following data for operating revenue and net income for 2001 through 2005.YearOperating Revenue (Millions), XNet Income (Millions), Y2001227096.92002148289.120032138103.92004226081.62005260078.1Determine the least-squares regression line and interpret its slope. Estimate the net income if the operating revenue figure is $2500 million. Use Excel showing steps.

The least Squares Regression refers to an approach on determining a straight line that best fits the…

Answered: Peoples Energy INC reported the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Peoples Energy INC reported the following data for operating revenue and net income for 2001 through 2005.

Year	Operating Revenue (Millions), X	Net Income (Millions), Y
2001	2270	96.9
2002	1482	89.1
2003	2138	103.9
2004	2260	81.6
2005	2600	78.1

Determine the least-squares regression line and interpret its slope. Estimate the net income if the operating revenue figure is $2500 million. Use Excel showing steps.

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