A Random Sample of Records of Electricity Usage of Homes

question 2

Multiple Choice

A random sample of records of electricity usage of homes in the month of July gives the amount of electricity used and size (in square feet) of 135 homes.A regression was done to predict the amount of electricity used (in kilowatt-hours) from size.The residuals plot indicated that a linear model is appropriate.The model is
= 1,287 + 0.3 size.The people in a house that is 2,347 square feet used 500 kilowatt-hours less than expected.How much did they use?

• A)1,491.1 kilowatt-hours
• B)3,134.3 kilowatt-hours
• C)-82.9 kilowatt-hours
• D)3,533.33 kilowatt-hours
• E)1,204.1 kilowatt-hours

Understand the ability of different sociological research methods to establish cause and effect.

Recognize ethical considerations in survey research.

Define the scientific method and understand its importance in sociological research.

Assess the accuracy and reliability of research findings, especially from Internet sources.

---

Definitions:

Period Cost

Expenses not directly tied to production activity, such as administrative and selling expenses, that are expensed in the accounting period in which they are incurred.

Contribution Margin Ratio

A metric that shows the percentage of sales revenue left after variable costs are deducted, indicating how much contributes to fixed costs and profits.

Operating Income

Profits generated from a company's core business operations, excluding deductions of interest and taxes.

Predicting Customer Demand

The process of forecasting future demand for a product or service based on historical sales data, market trends, and statistical analysis.