SCENARIO 18-2 One of the Most Common Questions of Prospective House Buyers

question 290

Multiple Choice

SCENARIO 18-2
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 4 variables to predict heating costs: the daily minimum outside temperature in degrees of Fahrenheit ( X₁ ) , the amount of insulation in inches ( X ₂ ) , the number of windows in the house ( X₃ ) , and the age of the furnace in years ( X ₄ ) . Given below are the EXCEL outputs of two regression models.


-Referring to Scenario 18-1,what minimum annual income would an individual with a family size of 9 and 10 years of education need to attain a predicted 5,000 square foot home (House = 50) ?

• A)$44.14 thousand
• B)$56.75 thousand
• C)$178.33 thousand
• D)$211.85 thousand

---

Definitions:

Sounds

Audible vibrations or noises that can be heard, typically used in communication, alerts, or as an element of multimedia content.

Red Circle Handle

In graphical user interfaces, a control point typically used for resizing or rotating objects, often marked by a red circle.

Connector Line

A visual representation used in diagrams and flowcharts to link different elements or parts.

Groups

Collections of users, accounts, or entities categorized together usually for sharing resources or permissions in computer systems.