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SCENARIO 14-6 One of the Most Common Questions of Prospective House Buyers

Question 231

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SCENARIO 14-6
One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X1 ) and the amount of insulation in inches ( X 2 ) . Given below is EXCEL output of the regression model.
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ) . Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-5,one company in the sample had sales of $20 billion (Sales = 20,000) .This company spent $300 million on capital and $700 million on wages.What is the residual (in millions of dollars) for this data point? A) 874.55 B) 622.87 C) -790.69 D) -983.56
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ) . Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-5,one company in the sample had sales of $20 billion (Sales = 20,000) .This company spent $300 million on capital and $700 million on wages.What is the residual (in millions of dollars) for this data point? A) 874.55 B) 622.87 C) -790.69 D) -983.56
SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X<sub>1</sub> ) and the amount of insulation in inches ( X <sub>2</sub> ) . Given below is EXCEL output of the regression model. Also SSR (X<sub>1</sub> | X<sub>2</sub>) = 8343.3572 and SSR (X<sub>2</sub> | X<sub>1</sub>) = 4199.2672 -Referring to Scenario 14-5,one company in the sample had sales of $20 billion (Sales = 20,000) .This company spent $300 million on capital and $700 million on wages.What is the residual (in millions of dollars) for this data point? A) 874.55 B) 622.87 C) -790.69 D) -983.56
Also SSR (X1 | X2) = 8343.3572 and SSR (X2 | X1) = 4199.2672
-Referring to Scenario 14-5,one company in the sample had sales of $20 billion (Sales = 20,000) .This company spent $300 million on capital and $700 million on wages.What is the residual (in millions of dollars) for this data point?


A) 874.55
B) 622.87
C) -790.69
D) -983.56

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