From the given dataset and excel output, can you solve the following questions? Salsberry Realty sells homes

From the given dataset and excel output, can you solve the following questions?

  

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Salsberry Realty sells homes along the East Coast of the United States. One of the questions most frequently asked by prospective buyers is: If we purchase this home, how much can we expect to pay to heat it during the winter? The research department at Salsberry has been asked to develop some guidelines regarding heating costs for single-family homes. Three variables are thought to relate to the heating costs: (1) the mean daily outside temperature, (2) the number of inches of insulation in the attic, and (3) the age in years of the furnace. To investigate, Salsberry's research department selected a random sample of 20 recently sold homes. It determined the cost to heat each home last January, as well as the January outside temperature in the region, the number of inches of insulation in the attic, and the age of the furnace. FACTORS IN JANUARY HEATING COST FOR A SAMPLE OF 20 HOMES Home Heating Cost Attic Insulation ($) Mean Outside Temperature (°F) Age of Furnace (Years) 6 1 250 35 360 29 10 165 3 43 9 92 6 200 355 290 230 120 73 :56XL9SAWN. 2 4 8 10 11 12 13 14 15 16 17 18 19 20 205 400 320 72 272 94 190 235 139 36 60 65 30 10 7 21 55 54 48 20 39 60 20 58 40 27 30 (inches) stions GRANDS +conx97 3 4 7 6 5 5 6 10 9 2 12 5 5 4 8 5 8 5 7 10 11 5 4 1 15 7 6 8 3 11 8 5 Salsberry Realty sells homes along the East Coast of the United States. One of the questions most frequently asked by prospective buyers is: If we purchase this home, how much can we expect to pay to heat it during the winter? The research department at Salsberry has been asked to develop some guidelines regarding heating costs for single-family homes. Three variables are thought to relate to the heating costs: (1) the mean daily outside temperature, (2) the number of inches of insulation in the attic, and (3) the age in years of the furnace. To investigate, Salsberry's research department selected a random sample of 20 recently sold homes. It determined the cost to heat each home last January, as well as the January outside temperature in the region, the number of inches of insulation in the attic, and the age of the furnace. FACTORS IN JANUARY HEATING COST FOR A SAMPLE OF 20 HOMES Home Heating Cost Attic Insulation ($) Mean Outside Temperature (°F) Age of Furnace (Years) 6 1 250 35 360 29 10 165 3 43 9 92 6 200 355 290 230 120 73 :56XL9SAWN. 2 4 8 10 11 12 13 14 15 16 17 18 19 20 205 400 320 72 272 94 190 235 139 36 60 65 30 10 7 21 55 54 48 20 39 60 20 58 40 27 30 (inches) stions GRANDS +conx97 3 4 7 6 5 5 6 10 9 2 12 5 5 4 8 5 8 5 7 10 11 5 4 1 15 7 6 8 3 11 8 5

Answer rating: 100% (QA)

Lets address each part of the question step by step 1 Develop an estimated regression equation that relates heating cost to mean outside temperature X1 attic insulation X2 and age of a furnace X3 a Wr... View the full answer