A researcher uses a regression equation to predict home heating bills (dollar cost), based on home size (square feet). The correlation between predicted bills and home size is 0.70. What is the correct interpretation of this finding? (A) 70% of the variability in home heating bills can be explained by home size. (B) 49% of the variability in home heating bills can be explained by home size. (C) For each added square foot of home size, heating bills increased by 70 cents. (D) For each added square foot of home size, heating bills increased by 49 cents. (E) None of the above.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
A researcher uses a regression equation to predict home heating
bills (dollar cost), based on home size (square feet). The correlation
between predicted bills and home size is 0.70. What is the correct
interpretation of this finding?
(A) 70% of the variability in home heating bills can be explained by
home size.
(B) 49% of the variability in home heating bills can be explained by
home size.
(C) For each added square foot of home size, heating bills
increased by 70 cents.
(D) For each added square foot of home size, heating bills
increased by 49 cents.
(E) None of the above.
Transcribed Image Text:A researcher uses a regression equation to predict home heating bills (dollar cost), based on home size (square feet). The correlation between predicted bills and home size is 0.70. What is the correct interpretation of this finding? (A) 70% of the variability in home heating bills can be explained by home size. (B) 49% of the variability in home heating bills can be explained by home size. (C) For each added square foot of home size, heating bills increased by 70 cents. (D) For each added square foot of home size, heating bills increased by 49 cents. (E) None of the above.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman