You are a real estate broker and your clients always ask about utility costs when they are considering a new home for purchase. You decide to use your analytical skills to build a model that will enable you to predict the amount of the electric bill for a particular location based on a number of different factors. You have collected data and summarized it in a spreadsheet. In addition to the amount of the monthly electric bill, you have information on temperature, the number of days when the heat or air conditioner might need to run, whether or not a new meter or heat pump has been installed, and total energy consumption.

Dataset:

https://docs.google.com/spreadsheets/d/1vanPCoD3Vo1DNAbzBtjR48IdTjhUOaQc/edit?usp=sharing&ouid=110026528864652775525&rtpof=true&sd=true

Question

After several iterations, you arrive at Model which includes the predictors: TEMP, SIZE, METER, PUMP1, PUMP2. Suppose that you are considering a house that has the following characteristics:

The average temperature is 65 degrees with 3 people living in it; the house has a new meter and a new heat pump 1 but does not have a new heat pump 2.

What would you expect the electric bill to be for this house?