The average monthly residential gas bill for Black Hills Energy customers in Cheyenne, Wyoming is (Wyoming Public Service Commission website). How is the average monthly gas bill for a Cheyenne residence related to the square footage, number of rooms, and age of the residence? The following data show the average monthly gas bill for last year, square footage, number of rooms, and age for typical Cheyenne residences. Average Monthly Gas Number of Bill for Last Year Age Square Footage Rooms $70.20 16 2537 6 $81.33 2 3437 8 $45.86 27 976 6 $59.21 11 1713 7 $117.88 16 3979 11 $57.78 2 1328 7 $47.01 27 1251 6 $52.89 4 827 5 $32.90 12 645 4 $67.04 29 2849 5 $76.76 1 2392 7 $60.40 26 900 5 $44.07 14 1386 5 $26.68 20 1299 4 $62.70 17 1441 6 $45.37 13 562 4 $38.09 10 2140 4 $45.31 22 908 6 $52.45 24 1568 5 $96.11 27 1140 10 a. Develop an estimated regression equation that can be used to predict a residence's average monthly gas bill for last year given its age. Round your answers to four decimals. b. Develop an estimated regression equation that can be used to predict a residence's average monthly gas bill for last year given its age, square footage, and number of rooms. Round your answers to four decimals. Enter negative value as negative number. + c. At the level of significance, test whether the two independent variables added in part (b), the square footage and the number of rooms, contribute significantly to the estimated regression equation developed in part (a). If not stated otherwise, round your answers to four decimals. Use Table 4 from Appendix B.
Inverse Normal Distribution
The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.
Mean, Median, Mode
It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.
Z-Scores
A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.
|
The average monthly residential gas bill for Black Hills Energy customers in Cheyenne, Wyoming is (Wyoming Public Service Commission website). How is the average monthly gas bill for a Cheyenne residence related to the square footage, number of rooms, and age of the residence? The following data show the average monthly gas bill for last year, square footage, number of rooms, and age for typical Cheyenne residences.
a. Develop an estimated regression equation that can be used to predict a residence's average monthly gas bill for last year given its age. Round your answers to four decimals. b. Develop an estimated regression equation that can be used to predict a residence's average monthly gas bill for last year given its age, square footage, and number of rooms. Round your answers to four decimals. Enter negative value as negative number. c. At the level of significance, test whether the two independent variables added in part (b), the square footage and the number of rooms, contribute significantly to the estimated regression equation developed in part (a). If not stated otherwise, round your answers to four decimals. Use Table 4 from Appendix B.
The p-value associated with F is - Select your answer -less than 0.01between 0.01 and 0.025between 0.025 and 0.05between 0.05 and 0.10greater than 0.10Item 11 . Therefore, the addition of the two independent variables - Select your answer -isis notItem 12 statistically significant. |
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 5 images
