Question: 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 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 variables shown below. Use the regression output shown to the right to complete parts a and b.

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 customer of the company

Coefficients

Intercept

TV

People

Years

37.3922

11.1869

6.5436

0.7101

a. Interpret the meaning of all three regression coefficients. Select the correct choice below and, if necessary, fill in the answer boxes within your choice.

(Type integers or decimals. Type exact answers.)

A.Each additional TV increases the monthly cable bill by

$nothing.

Each additional person increases the monthly cable bill by

$nothing.

Each additional year decreases the monthly cable bill by

$nothing.

B.Each additional TV decreases the monthly cable bill by

$nothing.

Each additional person decreases the monthly cable bill by

$nothing.

Each additional year increases the monthly cable bill by

$nothing.

C.

There is no meaningful interpretation of the regression coefficients for this application.

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