Come up with an example in which you can use multiple linear regression to predi
ID: 3217790 • Letter: C
Question
Come up with an example in which you can use multiple linear regression to predict the dependent variable. For each predictor variable indicate the expected sign of the coefficient. Here is an example: Suppose we are interested in predicting the selling price of our home so Y = Selling Price We believe there are several variables that can be used to predict the selling price, for example: X1 = square footage (assume positive relationship - as square footage increases so does the selling price X2 = age of the house (assume negative relationship - as age increases, value (selling price) tends to decrease X3 = appraised value from appraisal district (assume positive - as appraised value increases so does the selling price) There are other predict variables that could be used to predict selling price - but I believe this is a sufficient explanation. Let me know if you have questions or concerns.Explanation / Answer
I give an example of multiple regression model which is related to electric power consumed.
The electric power consumed each month by a chemical plant is thought to be related to the average ambient temperature x1, the number of days in the month x2, the average product purity x3, and the tons of product produced x4. The past year’s historical data are available and are presented in the following table.
average ambient temperature is a negative relationship
number of days in the month is a positive relationship
average product purity is a positive relationship
tons of product produced is a positive relationship
y x1 x2 x3 x4 2 4 0 2 5 2 4 9 1 1 0 0 2 3 6 3 1 2 1 9 0 9 5 2 9 0 4 5 2 4 8 8 1 1 0 2 7 4 6 0 2 5 8 7 8 8 3 0 1 6 5 2 5 9 1 9 4 3 1 6 7 2 2 6 9 4 9 9 3 0 0 8 0 2 5 8 7 9 7 2 9 6 8 4 2 5 8 6 9 6 2 6 7 7 5 2 4 8 8 1 1 0 2 7 6 6 0 2 5 9 1 1 0 5 2 8 8 5 0 2 5 9 0 1 0 0 2 6 1 3 8 2 3 8 9 9 8