The owner of an office building studies heating cost versus daily high temperatures. He records the following data:
Temperature (deg C) @ Cost ($100)
1 @ 9
4 @ 5
6 @ 3
10 @ 2
He proposes a regression equation to predict the cost of heating the building.
What is the predicted heating cost for a day with a high temperature of 8 degrees C and what is the correlation coefficient?© BrainMass Inc. brainmass.com March 4, 2021, 5:36 pm ad1c9bdddf
The Regression equation to predict the cost of heating will be
<br>where Y is the predicted cost
<br>X is the high temperature
<br>a is the coefficient of the first variable (temperature) and
<br>b is the intercept.
<br>Our given data ...
The soltuion addresses the fact that the owner of an office building studies heating cost versus daily high temperatures and his data recording.