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Golson Golson
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3 weeks ago
Use the following information to answer the question(s) below.

Delmarva Power is a utility company that would like to predict the monthly heating bill for a household in Kent County during the month of January. A random sample of 18 households in the county were selected and their January heating bill recorded. This data is shown in the table below along with the square footage of the house (SF), the age of the heating system in years (Age,) and the type of heating system (heat pump = 1 or natural gas = 0).



Show the calculations for the multiple coefficient of determination for the heating bill model and interpret its meaning.
Textbook 

Business Statistics


Edition: 2nd
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mkyoungsmkyoungs
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3 weeks ago
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R2 =  =  = 0.7492

74.92% of the variation in a household's monthly heating bill can be explained by the square footage of the house (SF), the age of the heating system in years (Age), and the type of heating system (heat pump or natural gas).

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