Answers:
a)SCATTER PLOTS
b)Square footage should be suggested as the independent variable for regression with heating cost as the dependent variable.
c)If only one independent variable is to be used for regression , then based on the scatterplots, square footage should be suggested as the independent variable as it shows the strongest linear relationship (linear trend) with the dependent variable heating cost.
d)In case of only one variable, the vlaue of significance is seen only for that particular variable. If it is less than 0.05 (95% cutoff) then the variable explains a linear relationship with heating cost in a significant way.
If not, then the intercept must have high contribution, meaning F-value for the independent variable > cutoff value implies the variable is not showing a strong linear relation with heating cost.
e)If an additional variable is to be used for regression avg outside temp should be used.
f)This is because it shows the second most linear relationship with heating cost after square footage.
NOTE:AS PER HOMEWORKLIB POLICY ONLY FOUR SUBPARTS CAN BE ANSWERED.THANKS.
Attic Age of Avg Outside Insulation Furnace Square Avg Heating (inches) (years) Footage Cost Temp 6 291 230 1300 2100 3...
Attie Age Outside Insulation Furnace Square Avg Heating of Temp (inches) (years) Footage Cost Avg Heating Cost 48564s+381 96 350 | 300 M2_A2. Western Home Inspections is a home inspection service that provides prospective homebuyers with a thorough assessment of the major systems in a house prior to the execution of the purchase contract. Prospective homebuyers often ask the company for an estimate of the heating cost of the home during the winter. To answer this question, the company wants...
Western Home Inspections is a home inspection service that provides prospective homebuyers with a thorough assessment of the major systems in a house prior to the execution of the purchase contract. Prospective homebuyers often ask the company for an estimate of the average monthly heating cost of the home during the winter. To answer this question, the company wants to build a regression model to help predict the average monthly heating cost (Y) as a function of the average outside...
Heating Cost Sy Outside Temp Ideal Attle Insalatice inches) 2 Age of Furnace years) x3 The following data points were collected at random from a sample of 10 recently sold homes. What is the estimated heating cost for a home if; the mean outside temperature is 32 degrees, there are 7 inches of insulation, and the furnace is 7 years old? 10 165 36 200