Identify the Components of Simple Linear Regression Models and Discuss

question 40

Multiple Choice

Identify the components of simple linear regression models and discuss their applications Use the data given below to answer the following question(s) .
Following is an extract from the database of a construction company. The table shows the height of walls in feet and the cost of raising them. The estimated simple linear regression equation is given as Ŷ = b0 + b1X. (Hint: Use Excel functions) . $$\begin{array} { | l | l | } \hline\begin{array} { l } \text { Height } \\\text { (ft) }\end{array} & \text { Cost (\$) } \\\hline 4 & 670 \\\hline 3 & 430 \\\hline 7 & 810 \\\hline 9 & 1100 \\\hline 6 & 790 \\\hline 8 & 880 \\\hline 5 & 760 \\\hline 11 & 1200 \\\hline\end{array}$$
-What is the value of the coefficient b1?

• A) 86.81704
• B) 254.8371
• C) 0.010697
• D) -2.14625

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Definitions:

Motivation

The force that moves people to behave, think, and feel the way they do.

Self-perception Theory

A psychological theory suggesting that people develop their attitudes and opinions by observing their own behavior and concluding what attitudes must have caused it.

Psychological Discomfort

A mental state of unease which can stem from anxiety, stress, unfamiliarity, or situations that push one out of their comfort zone.

Attitudes

A settled way of thinking or feeling about someone or something, typically reflected in a person's behavior.