R

Part 2 (6 Points):

All Calculations must be done in R using the excel document “Gas_Consumption.xlsx”:

1) Plot X=Income and Y=Gas Consumption. 

2) Describe plot #1 and what you notice about the plot?

3) Calculate the Regression Line of #1. 

4) Is the X-variable statistically significant? 

5) What does the intercept mean?

6) Explain the sign of the intercept and coefficients.