SCENARIO 14-6 One of the Most Common Questions of Prospective House Buyers

question 76

Multiple Choice

SCENARIO 14-6
One of the most common questions of prospective house buyers pertains to the cost of heating in dollars (Y) . To provide its customers with information on that matter, a large real estate firm used the following 2 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X₁ ) and the amount of insulation in inches ( X ₂ ) . Given below is EXCEL output of the regression model.



Also SSR (X₁ | X₂) = 8343.3572 and SSR (X₂ | X₁) = 4199.2672
-Referring to Scenario 14-5,what are the predicted sales (in millions of dollars) for a company spending $500 million on capital and $200 million on wages?

• A)15,800.00
• B)16,520.07
• C)17,277.49
• D)20,455.98

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Definitions:

Counta Function

A feature in spreadsheet applications that tallies the quantity of non-empty cells within a specified range.

Min Function

A programming function that determines the smallest value among its arguments or elements in a data set.

Status Bar

A user interface element typically found at the bottom of an application window, displaying information about the current state of the application or selected objects within it.

Name Box

A feature typically found in spreadsheet applications, such as Microsoft Excel, that displays the address or name of the current selection or allows users to define names for cells, ranges, or formulas.