Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A real estate developer wishes to predict electricity consumption based on atmospheric temperature. He collected data on 30 houses. Let the variable Electricity consumption be

image text in transcribed
image text in transcribed
A real estate developer wishes to predict electricity consumption based on atmospheric temperature. He collected data on 30 houses. Let the variable Electricity consumption be the monthly electricity consumption in kilowatts (kw) for a house and Temperature be the monthly average atmospheric temperature in C in the area of the house. Following is the output from a simple linear regression obtained from the collected data: Coefficients Standard Error t Stat P-value Lower 95% Upper 95% Intercept 240.078619 11.14312187 21.54501 5.718-19 217.25297 262.90427 Temperature (C) -5.7269628 0.534087664 -10.7229 2.02E-11 -6.8209918 -4.632934 Which of the following is the correct interpretation for the slope coefficient? Select one: O For each increase of 1.C of temperature, the expected electricity consumption is estimated to decrease by -5.727 kw. O For each increase of 1.C of temperature, the expected electricity consumption is estimated to decrease by 5.727 kw. O For each increase of 1.C of temperature, the expected electricity consumption is estimated to increase by 5.727 kw. O For each increase of 1 kw in expected electricity consumption, the expected temperature is estimated to increase by 5.727 .C. Check

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Hospitality Financial Accounting

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.

2nd Edition

9780470598092, 470083603, 978-0470083604

Students also viewed these Mathematics questions

Question

what are the outstanding checks when reconciling a bank statement?

Answered: 1 week ago