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Head of business intelligence and analytics

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Reference no: EM131524651

Please answer the following question below. Attached is the file with the data to use.

The head of business intelligence and analytics suggests that more explanatory variables may be included in a regression model to estimate residential natural gas prices. You suggest adding dummy variables for each grouping of months that has a "different" level of residential natural gas price. Using m u l t i p l e regression analysis, fully examine the following questions:

What is the best of grouping of months that employs the minimum number of groups (and thus dummy variables) and achieves an acceptably accurate fit to the data? Compare (at least) the fit of the competing models that respectively employ 2 and 3 groups of months. Fully analyze, diagnose and discuss the best model you find.

Reference no: EM131524651

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