In a Study of 30 Customers' Utility Bills in Which

question 123

True/False

In a study of 30 customers' utility bills in which the monthly bill was the dependent variable and the number of square feet in the house is the independent variable, the resulting regression model is = 23.40 + 0.4x. Given this, the sample correlation coefficient is known to be positive.

---

Definitions:

Billion

A numerical value represented as 1,000 million (1,000,000,000) in the short scale, commonly used in financial and demographic statistics.

MPS

The marginal propensity to save, which is the proportion of an additional unit of income that is saved rather than spent.

Induced Consumption

Consumer spending that increases as disposable income rises, and decreases as disposable income falls.

Trillion

Trillion is a numerical value represented as 1,000,000,000,000 (10^12), commonly used to quantify large figures such as government budgets, economics, and astronomy.