Multiple regression analysis produced regression equation

Reference no: EM13109008

Rresearch company has been appointed by realty company to do the analysis of heating cost of homes in region. Realty company wanted to be able to forecast heating cost of typical single-family home. Realty company was constantly being asked questions concerning heating costs by potential home buyers. It was thought that these variables would influence heating costs (Y'): mean daily outdoor temperature (X1), number of inches of insulation (X2), and age in years of furnace (X3). Multiple regression analysis produced following regression equation: Y' = 427.2 - 4.58X1 - 14.83X2 + 6.10X3. Which statement is right based on this analysis?

Reference no: EM13109008

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