Learning Goal: I’m working on a other question and need guidance to help me learn.
Though not required, it is helpful if you read Chapter 4 and conduct correlation analysis described in that chapter before doing this homework. Homework #1 is based on Chapter 8, which is an extension of the business case described in Chapter 4.
Chapter 8 describes the case in which a heating oil company is considering using linear regression to estimate potential oil usage by the company’s customers during the upcoming winter season, so the company is adequately prepared to meet the demand.
For this homework, please read and do the hands-on work described in Chapter 8 of the Matthew North RapidMiner book (PDF).
Specifically, please do the following:
- Create a new Microsoft Word document and save it on your computer.
- Use RapidMiner software to do all of the hands-on work described in Chapter 8. Create a screen capture of the table containing linear regression coefficients (similar to Figure 8-7) and paste it in the Word document.
- Interpret and apply your findings: below the screen capture in the Word document, please answer the following two questions.
(A) What does the positive coefficient (and positive correlation) of the insulation with heating oil consumption mean? Please explain briefly (in not more than 3 sentences) possible reason/s for this positive association between insulation and heating oil consumption.
(B) Please calculate potential heating oil consumption by a household that has the following data values for the predictor variables:
- Insulation = 7
- Temperature = 62
- Average age = 45
- Home size = 5
Here is the link to the reading: https://docs.rapidminer.com/downloads/DataMiningFo…
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