Certain private water utilities in South Carolina charge a variable rate for the drinking water they provide to residences. One customer's bills over a 23-month period were used to fit a linear regression in an attempt to predict charges on future bills according to gallons consumed. The resulting regression equation is ŷ = 23.2 + 7.67x, where x is the amount of water used, in thousands of gallons and ŷ is the predicted bill amount in dollars. Which of these choices are a correct statement resulting from this regression line? On average, the bill amount increased by 7.67 dollars for each additional thousand gallons consumed. On average, the amount consumed increased by 7.67 thousand gallons for each additional dollar added to the bill amount. On average, the bill amount increased by 23.2 dollars for each additional thousand gallons consumed. On average, the amount consumed increased by 23.2 thousand gallons for each additional dollar added to the bill amount.
Certain private water utilities in South Carolina charge a variable rate for the drinking water they provide to residences. One customer's bills over a 23-month period were used to fit a linear regression in an attempt to predict charges on future bills according to gallons consumed. The resulting regression equation is ŷ = 23.2 + 7.67x, where x is the amount of water used, in thousands of gallons and ŷ is the predicted bill amount in dollars. Which of these choices are a correct statement resulting from this regression line? On average, the bill amount increased by 7.67 dollars for each additional thousand gallons consumed. On average, the amount consumed increased by 7.67 thousand gallons for each additional dollar added to the bill amount. On average, the bill amount increased by 23.2 dollars for each additional thousand gallons consumed. On average, the amount consumed increased by 23.2 thousand gallons for each additional dollar added to the bill amount.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
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Transcribed Image Text:Certain private water utilities in South Carolina charge a variable rate for the drinking water they provide to residences.
One customer's bills over a 23-month period were used to fit a linear regression in an attempt to predict charges on future
bills according to gallons consumed. The resulting regression equation is ŷ = 23.2 + 7.67x, where x is the amount of
water used, in thousands of gallons and ŷ is the predicted bill amount in dollars. Which of these choices are a correct
statement resulting from this regression line?
On average, the bill amount increased by 7.67 dollars for each additional thousand gallons consumed.
On average, the amount consumed increased by 7.67 thousand gallons for each additional dollar added to the bill
amount.
On average, the bill amount increased by 23.2 dollars for each additional thousand gallons consumed.
On average, the amount consumed increased by 23.2 thousand gallons for each additional dollar added to the bill
amount.
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