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

question 214

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 and the amount of insulation in inches Given below is EXCEL output of the regression model.
-Referring to Scenario 14-6, the estimated value of the regression parameter in means that

• A)holding the effect of the amount of insulation constant, an estimated expected $1 increase in heating costs is associated with a decrease in the daily minimum outside Temperature by 2.76 degrees.
• B)holding the effect of the amount of insulation constant, a 1 degree increase in the daily minimum outside temperature results in a decrease in heating costs by $2.76.
• C)holding the effect of the amount of insulation constant, a 1 degree increase in the daily minimum outside temperature results in an estimated decrease in mean heating Costs by $2.76.
• D)holding the effect of the amount of insulation constant, a 1% increase in the daily minimum outside temperature results in an estimated decrease in mean heating costs By 2.76%.

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Definitions:

Collective Behaviour

Actions or behaviors of a group of people who are in direct or indirect contact and engage in similar activities or practices, often spontaneous and with uncertain outcomes.

Expressive Crowds

Groups of people who gather primarily for the spontaneous expression of emotion, such as joy, anger, or mourning, often in response to an event or communal sentiment.

Digital Immigrant

An individual who adopts and learns digital technologies later in life, as opposed to growing up with them.

Luddite

Identifies individuals or groups who oppose or are skeptical of technological advancement and innovation, historically originating from early 19th-century English workers who destroyed machinery they believed threatened their jobs.