Given the following data set with x as the amount of product

Given the following data set: with x as the amount of product manufactured in one month in millions of pounds and y as water usage in one month in ten thousand dollars

X: 1.61, 3.17, 3.65, 4.26, 3.38, 6.19. 7.39, 8.66, 9.37, 9.44, 11.3, 11.18, 12.03, 13.14, 15.9, 15.67

And Y: 7.4, 8.73, 11.51, 11.48, 10.72, 13.7, 20.75, 21.03, 23.43, 22.78, 24.98, 27.12, 29.79, 29.59, 36.47, 36.48

Estimate with 80% confidence the average monthly water usage for plants that make 2 million pounds of products. Make sure to show all relevant work to receive full credit.

Solution

X:(pound) Y:(dollars) X (dolllars) 1.61 7.4 243.6172 3.17 8.73 479.6686 3.65 11.51 552.2998 4.26 11.48 644.6019 3.38 10.72 511.4447 6.19 13.7 936.6399 7.39 20.75 1118.218 8.66 21.03 1310.388 9.37 23.43 1417.822 9.44 22.78 1428.414 11.3 24.98 1709.86 11.18 27.12 1691.702 12.03 29.79 1820.319 13.14 29.59 1988.279 15.9 36.47 2405.909 15.67 36.48 2371.106 SUMMARY OUTPUT Regression Statistics Multiple R 0.992277 R Square 0.984614 Adjusted R Square 0.983515 Standard Error 1.225959 Observations 16 ANOVA df SS MS F Significance F Regression 1 1346.565 1346.565 895.9322 4.3E-14 Residual 14 21.04167 1.502977 Total 15 1367.607 Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Lower 80.0% Upper 80.0% Intercept 3.151344 0.670384 4.700801 0.000341 1.713512 4.589175 2.249656 4.053031 X Variable 1 0.013841 0.000462 29.93213 4.3E-14 0.012849 0.014833 0.013219 0.014463