SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y).To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit and the amount of insulation in inches Given below is EXCEL output of the regression model.
-Referring to Scenario 14-6, what is the 95% confidence interval for the expected change in heating costs as a result of a 1 degree Fahrenheit change in the daily minimum outside temperature?
A)[256.7522, 639.8328]
B)[204.7854, 497.1733]
C)[-5.3721, -0.1520]
D)[-37.1736, 5.2919]

Question

SCENARIO 14-6 One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y).To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit  and the amount of insulation in inches  Given below is EXCEL output of the regression model.  
-Referring to Scenario 14-6, what is the 95% confidence interval for the expected change in heating costs as a result of a 1 degree Fahrenheit change in the daily minimum outside temperature?
A)[256.7522, 639.8328] 
B)[204.7854, 497.1733] 
C)[-5.3721, -0.1520] 
D)[-37.1736, 5.2919]

Quizplus · Accepted Answer

The confidence interval for the expected change in heating costs due to a 1 degree Fahrenheit change in temperature is typically negative, indicating a decrease in costs as temperature increases.

SCENARIO 14-6 One of the Most Common Questions of Prospective