The local utility company surveys 16 randomly selected customers. For each surve

Question

The local utility company surveys 16 randomly selected customers. For each survey participant, the company collects the following: annual electric bill (in dollars) and home size (in square feet). Output from a regression analysis appears below: Bill 17.05 + 3.73*Size Coefficients Estimate Std. Error (Intercept) 17.05 Size 0.76 0.75 3.73 We are 95% confident that the mean annual electric bill increases by between Previewdollars and Enter a mathematical expression [more..] Previewdollars for every additional square foot in home size,

Explanation / Answer

Degrees of freedom = n - 2 = 16 - 2= 14

For 14 degrees of freedom and 95% confidence,

Critical t value = 2.145

Hence,

95% confidence interval will be:

(3.73 - 2.145*0.75, 3.73 + 2.145*0.75)

(2.1213, 5.3388)

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