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Use the following information for following questions .
Data were recorded for 117 months on a household's gas bill (in dollars) and the average monthly temperatures for its neighborhood. The mean monthly temperature was 48.7° F with a standard deviation of 20.6. The mean gas bill price was $81.20 with a standard deviation of 66.5. The correlation coefficient between monthly temperature and gas bill price is −0.92.
-Determine the correct value of the slope for the linear model that predicts gas bill price from monthly temperature and interpret it in context.
Coefficient Of Determination
A metric in statistics that evaluates the percentage of variability in the outcome variable that can be explained by the predictor variable(s).
SSE
Sum of Squared Errors, a measure used in statistics to quantify the discrepancy between data points and a model's predictions.
SSR
Sum of Squares due to Regression, a measure indicating how well a regression model fits the data.
SSE
The Sum of Squared Errors represents the difference between observed data points and the values predicted by a model.
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