the following regression output was generated based on a sample of utility custo

Question

the following regression output was generated based on a sample of utility customers The following regression output was generated based on a sample of utility customers. The dependent variable was the dollar amount of the monthly bil andthe independent variable wasthe size of the house in square feet. SUMMARY OUTPUT Regression Statistics Multiple R 0.1 Square 002243078 Adjusted R square .0012482407 Standard Error 1672762259 Observations Regression 179 7725274 79 7725 0642473 Residual 28 7834.774007 279.8134 8014546534 Total Standard Emor Stat P-valve Coefficients 66.44304169 13 446919 4941135 3.26E 05 Intercept 0801544 0429567 uare Feet Based on this regression output, which of the following statements is not true? O The number of square feet in the house explains only about 2 percent of the variation in the monthly power bil. OThe correlation of the monthly power bill with the square footage of the house is 0.14g The average increase in the monthly power bilis about 664 for each additionalsquare foot of space in the house. At an alpha level equal to 006, there is no basis for rejecting the hypothesis that the slope ooefficient is equal to zero. MacBook Pro

Explanation / Answer

The slope is 0.0053 so the average increase would be 0.0053. Hence, Option C is not correct and therefore,

Option C is the answer

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