Heating After keeping track of his heating expenses for
several winters, a homeowner believes he can estimate
the monthly cost ($) from the average daily Fahrenheit
temperature with the model Cost = 133 - 2.13 Temp.
Here is the residuals plot for his data:a) Interpret the slope of the line in this context.
b) Interpret the y-intercept of the line in this context.
c) During months when the temperature stays around
freezing, would you expect cost predictions based on
this model to be accurate, too low, or too high? Explain.
d) What heating cost does the model predict for a month
that averages 10°?
e) During one of the months on which the model was
based, the temperature did average 10°. What were the
actual heating costs for that month?
f) Should the homeowner use this model? Explain.
g) Would this model be more successful if the
temperature were expressed in degrees Celsius?

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Transcribed Image Text

$20 $10 Avg Temp $0 10 20 30 40 -$10 -$20 Residual