Essay
An air conditioning and heating repair firm conducted a study to determine if the average outside temperature could be used to predict the cost of an electric bill for a home during the winter months in Richmond,VA.It was determined that a quadratic model could be used and the following prediction equation was established:
Y = $1557.76 - 55.05X1 + 0.56X2
where Y = monthly cost,X1 = average temperature,and X2 = average temperature2
(a)If December has an average temperature of 43 degrees,what is the forecasted monthly electric bill?
(b)If January has an average temperature of 40 degrees,what is the forecasted monthly electric bill?
Correct Answer:
Verified
(a)$1557.76 - 55.05(...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q1: The regression line minimizes the sum of
Q5: The coefficient of determination resulting from a
Q7: Bob White is conducting research on monthly
Q8: A dummy variable is also called a(n)<br>A)indicator
Q9: The _ measures the total variability in
Q11: The SST measures the total variability in
Q59: Both the p-value for the F-test and
Q65: In regression, a binary variable is also
Q89: The coefficients of each independent variable in
Q106: The adjusted r<sup>2</sup> will always increase as