Comcast would like to develop the ability to predict the monthly cable bill for a customer. A multiple regression model was developed using a random sample of customers using the following independent variables: TV: the number of televisions in the household People: the number of people living in the household Years: the number of years that the household has been a Comcast customer The following figure shows the regression output from Excel.

a. Interpret the meaning of all three regression coefficients.

b. Predict the average cable bill for a household with three televisions, with five people in residence, and six years of being a customer.

Transcribed Image Text:

17 Intercept 18 TV 19 People 20 YearS Coefficients 39.3247 11.9025 7.3994 0.8577