Model

Linear Regression Model

parsnip model object


Call:
stats::lm(formula = cost_diff ~ Regular + Cost_per_kWh, data = data)

Coefficients:
 (Intercept)       Regular  Cost_per_kWh  
   4.075e-12     1.620e+03    -1.215e+04

LaTeX Code

\[ \begin{equation} \text{Cost Difference}_i = \beta_0 + \beta_1 \times \text{Regular}_i + \beta_2 \times \text{Cost per kWh}_i + \epsilon_i \end{equation} \]

Where:

  • \(\beta_0\): This represents the cost difference when both gas and charging prices are zero.

  • \(\beta_1\): This represents how much the cost difference changes for regular gas price.

  • \(\beta_2\): This represents how much the cost difference changes for charging costs per kWh.