Question: Comcast would like to develop the ability to predict the monthly cable bill for a customer. A multiple regression model was developed using a random

Comcast would like to develop the ability to predict the monthly cable bill for a customer. A multiple regression model was developed using a random sample of customers using the following independent variables: TV: the number of televisions in the household People: the number of people living in the household Years: the number of years that the household has been a Comcast customer The following figure shows the regression output from Excel.

17 Intercept 18 TV 19 People 20 YearS Coefficients 39.3247 11.9025 7.3994

a. Interpret the meaning of all three regression coefficients.

b. Predict the average cable bill for a household with three televisions, with five people in residence, and six years of being a customer.

17 Intercept 18 TV 19 People 20 YearS Coefficients 39.3247 11.9025 7.3994 0.8577

Step by Step Solution

★★★★★

3.33 Rating (183 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Each additional television in the household will increase th... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

483-M-S-L-R (3193).docx

120 KBs Word File

Students Have Also Explored These Related Statistics Questions!

A simple random sample of customers who telephoned a companys customer service in the past 3 months were invited to take part in a survey. The 10% of the sample who agreed to take part were asked,...

A simple random sample of customers who purchased products at Amazon.com in the past 3 months were invited by e-mail to respond to the question, Was our website easy to use, and did you find...

All Smiles Dental Clinic would like to develop a hygienist master schedule for the treatment of patients. Five full time hygienists are scheduled six days a week, and each hygienist can treat 10...

Comcast would like to develop the ability to predict the monthly cable bill for a customer. A multiple regression model was developed using a random sample of customers using the following...

A cable company would like to develop the ability to predict the monthly cable bill for a customer. A multiple regression model was developed using a random sample of customers using the independent...

A cable company would like to develop the ability to predict the monthly cable bill for a customer. A multiple regression model was developed using a random sample of customers using three...

This chapter stressed the importance of information technology for understanding how accounting information systems operate. But is this the only skill valued by employers? How important do you think...

The slope (b_1) in a simple linear regression model represent: a.) Predicted value of Y when X = 0. b.) The estimated change in Y per unit change in X. c.) Mean value of Y for a fixed value X. d.)...

The basis for classifying assets as current or noncurrent is the period of time normally elapsed from the time the accounting entity expends cash to the time it converts

Exercise 4 (LO 5, 6) Remeasured financial statements and sophisticated equity method Champos Corporation is a foreign corporation that was formed on June 30, 20X5. On July 1, 20X6, Magnum Ventures, a...

In recent years more people have been working past the age of 65. In 2005, 27% of people aged 6569 worked. A recent report from the Organization for Economic Cooperation and Development (OECD)...

Refer to exercise. a. What hypotheses are implied in this problem? b. At the = .05 level of significance, can we reject the null hypothesis in part (a)?Explain. Source of Variation of Squaresof...

Safegate Foods, Inc., is redesigning the checkout lanes in its supermarkets throughout the country and is considering two designs. Tests on customer checkout times conducted at two stores where the...

A project's expected return is 20%, which represents a 32% return in a boom, a 13% return in a normal, and a 6% return in a stagnant economy. What is the probability of a boom if these are the only...

Select the appropriate null and alternative hypothesis for the following research question: Do people enjoy playing video games more than playing sports? phat1 = proportion of people who enjoy...

Inc. which currently has a capital structure that is 4 0 % debt and 6 0 % equity has an asset beta of 1 . 5 5 what is the firm's equity beta? ignore taxes a ) 2 . 5 8 3 b ) . 9 3 0 c ) 1 . 3 5 2 d )...