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.AppendixLO1

Transcribed Image Text:

16 Coefficients 17 Intercept 39.3247 18 TV 11.9025 19 People 7.3994 20 Years -0.8577