Question: Examine the relationship between the average utility bills for homes of a particular size ( Y ) and the average monthly temperature ( X ). The data in the file -- use File 2-3.Xls . Include the average monthly bill and temperature for each month of the past year.

1. Create a scatter plot to discern the relationship between the average utility bills (Y) and the average monthly temperature (X).
2. Use the given data to estimate a simple liner regression model . Report your estimated equation and provide interpretation .

c. How well does the estimated regression model fit the given data? How might we do a better job of explaining the variation of the average utility bills for homes of a certain size?

d. What will be the average amount of mistake/error made if one were to use these regression results to predict/forecast average utility bills for homes [of a particular size]?

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