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

question 306

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, what can we say about the regression model?

• A)The model explains 17.12% of the variability of heating costs; after correcting for the degrees of freedom, the model explains 27.78% of the sample variability of heating Costs.
• B)The model explains 19.28% of the variability of heating costs; after correcting for the degrees of freedom, the model explains 27.78% of the sample variability of heating Costs.
• C)The model explains 27.78% of the variability of heating costs; after correcting for the degrees of freedom, the model explains 19.28% of the sample variability of heating Costs.
• D)The model explains 19.28% of the variability of heating costs; after correcting for the degrees of freedom, the model explains 17.12% of the sample variability of heating Costs.

---

Definitions:

Looking-Glass Self

A social psychological concept that suggests people form their self-image as reflections of the way others perceive them.

Self-Concept

An individual's comprehensive understanding of themselves, encompassing beliefs about one's personality, abilities, and unique characteristics.

Charles Horton Cooley

An American sociologist best known for his concept of the "looking-glass self," which describes how individuals develop their self-image through their interpretations of others’ perceptions of them.

High Self-Monitors

Individuals who are highly sensitive to social cues and adjust their behavior accordingly in different social settings.