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Answered Same Day Dec 13, 2021

Solution

Atreye answered on Dec 13 2021

136 Votes

Solution Q1:
i)
Code:
data=read.csv(file.choose(),header=TRUE)
fit=lm(Production~DwellPermit,data)
slope=coef(fit)
slope
(Intercept) DwellPermit
115.6866020 0.0847417
Answer:
Therefore, the least-square regression line is obtained as below:
Production = 115.6866020 + 0.0847417 × DwellPermit
ii) The slope is obtained as 0.0847417 which implies that for 1 unit change in DwellPermit the Production will increase by 0.0847417.
iii)
Code:
predict = slope[1]+(slope[2]*105)
predict
(Intercept)
124.5845
Therefore, the predicted value for production for a city having 105 new dwelling permits will be 124.5845.
iv)...

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