The software used to compute the least-squares regression line for the equation above says that r2 = 0.98. This suggests which of the following?
The software used to compute the least-squares regression line for the equation above says that r2 = 0.98. This suggests which of the following?
Elementary Linear Algebra (MindTap Course List)
8th Edition
ISBN:9781305658004
Author:Ron Larson
Publisher:Ron Larson
Chapter2: Matrices
Section2.CR: Review Exercises
Problem 90CR
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Question
An owner of a home in the Midwest installed solar panels to reduce heating costs. After installing the solar panels, he measured the amount of natural gas used y (in cubic feet) to heat the home and outside temperature x (in degree-days, where a day's degree-days are the number of degrees its average temperature falls below 65° F) over a 23-month period. He then computed the least-squares regression line for predicting y from x and found it to be
ŷ = 85 + 16x.
The software used to compute the least-squares regression line for the equation above says that r2 = 0.98.
This suggests which of the following?
1. Gas used increases by square root of 0.98 = 0.99 cubic feet for each additional degree-day?
2. Although degree-days and gas used are correlated , degree-days do not predict gas used very accurately.
3. Prediction of gas used from degree-days will be quite accurate.Expert Solution
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