Problem 4 An air conditioning and heating repair firm conducted a study to deter

Question

Problem 4 An air conditioning and heating repair firm conducted a study to determine if the outside temperature could be used to predict the cost of an electric bill for homes during the winter months in Houston, Texas. The resulting regression equation was: outside air temperature Y = 230.1 9-1.45X, where Y-monthly cost. December's electric bill? January's electric bill? a. If the temperature averaged 48 degrees during December, what is the forecasted cost of b. If the temperature averaged 38 degrees during January, what is the forecasted cost of

Explanation / Answer

a) The forecasted cost of December's electric bill

= 230.19 - (1.45*48)

= 160.59

b) The forecasted cost of January's electric bill

= 230.19 - (1.45*38)

= 175.09

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.