The electric power consumed each month by a chemical plant is thought to be related to...

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The electric power consumed each month by a chemical plant isthought to be related to the average ambient temperature (x1), thenumber of days in the month (x2), the average product purity (x3),and the tons of product produced (x4). The past yearâ€™s historicaldata are available and are presented in the following table:
y x1 x2 x3 x4
240 25 24 91 100
236 31 21 90 95
270 45 24 88 110
274 60 25 87 88
301 65 25 91 94
316 72 26 94 99
300 80 25 87 97
296 84 25 86 96
267 75 24 88 110
276 60 25 91 105
288 50 25 90 100
261 38 23 89 98
Fit a multiple linear regression model to this data. Determinewhether or not the model you have assumed can be simplified bydropping any of the terms. Calculate the ANOVA table for the model,which you have determined. What is the estimate of the variance inthe electric power measurement? Plot residual plots to determine ifthe assumptions underlying your analysis are met. Is this normalassumption a good one here? Calculate parameter covariance andparameter correlation matrix for your model. Do you have anyconcerns on the basis of this matrix?

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I have used R studio software to answer this question I willexplain step by step with codeFirst copy the data into excel and import that in R studio byclicking import data set tab on the right side1 Fit a multiple linear regression model to this dataCodefitlmy dataregressionsummaryfitR StudioOutputCalllmformula y data regressionResidualsMin 1Q Median 3Q Max14098 9778 1767 6798 13016CoefficientsEstimate Std Error t value PrtIntercept 1231312 1572561 0783 0459x1 07573 02791 2713 0030 x2 75188 40101 1875 0103x3 24831 18094 1372 0212x4 04811 05552 0867 0415Signif codes 0 0001 001 005 01 1Residual standard error 1179 on 7 degrees of freedomMultiple Rsquared 0852 Adjusted Rsquared07675Fstatistic 1008 on 4 and 7 DF pvalue 0004962 Determine whether or not the model you have assumed can besimplified by dropping any of the termsWe can remove variables if VIF is greater than See Answer

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The electric power consumed each month by a chemical plant is thought to be related to...

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