The regression analysis below characterizes the relationship

The regression analysis below characterizes the relationship between monthly ice cream consumption (in pints per household) and the independent variable \"average monthly temperature\" (in degrees Fahrenheit). The Multiple R value, 0.8409 tells us the correlation between the dependent and independent variables. The R-squared value is 71%.

Based on these measures, we can conclude that:

a)The variation in average monthly temperature explains about 71% of the variation in household ice cream consumption.

b) The variation in average monthly temperature explains about 84% of the variation in household ice cream consumption.

c) Predictions about future household ice cream sales will be correct within a 71% confidence interval.

d) Predictions about future household ice cream sales will be correct within an 84% confidence interval

Solution

The R^2 value, also called the coefficient of determination, is the proportion of the variation of y explained by the variation in x.

Thus, the answer is A: THE VARIATION IN AVERAGE MONTHLY TEMPERATURE EXPLAINS ABOUT 71% OF THE VARIATION IN HOUSEHOLD ICE CREAM CONSUMPTION. [ANSWER, OPTION A]