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. 16 Coefficients 17 Intercept 39.3247 18 TV 11.9025 19 People 7.3994 20

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.AppendixLO1

16 Coefficients 17 Intercept 39.3247 18 TV 11.9025 19 People 7.3994 20 Years -0.8577

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