The amount of electricity supplied by a utility to, Ask an Expert

Accounting

The amount of electricity supplied by a utility to residences in a community during the summer depends on the local weather as well as the habits of the people in the community.

(a) Would a normal model be reasonable to describe the amount of electricity used from one day to the next? Explain your answer briefly.

(b) Would it be reasonable to treat a sequence of daily electricity consumption values as iid normal random variables? Again, explain your answer briefly.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91724860

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