SoCal Edison 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.

SoCal Edison 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.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter7: Production Economics

Section: Chapter Questions

Problem 1.3CE

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