In a study of 30 customers' utility bills in which the monthly bill was the dependent variable and the number of square feet in the house is the independent variable,the resulting regression model is = 23.40 + 0.4x.Based on this model,the expected utility bill for a customer with a home with 2,300 square feet is approximately $92.00.

Question

In a study of 30 customers' utility bills in which the monthly bill was the dependent variable and the number of square feet in the house is the independent variable,the resulting regression model is  = 23.40 + 0.4x.Based on this model,the expected utility bill for a customer with a home with 2,300 square feet is approximately $92.00.

Quizplus · Accepted Answer

To calculate the expected utility bill for a customer with a home with 2,300 square feet, we need to substitute x=2,300 in the regression equation.

11ea694c_4e15_48a8_a4b1_113986a82a08_TB2693_11 = 23.40 + 0.4x

Utility bill = 23.40 + 0.4(2,300)
Utility bill = 23.40 + 920

Utility bill = $943.40

Therefore, the expected utility bill for a customer with a home with 2,300 square feet is approximately $943.40. This is not equal to $92.00, so the answer is false.

In a Study of 30 Customers' Utility Bills in Which