You are trying to predict how much money you will spend on electricity if you rent an apartment with 3 other friends. What data do you need?Total amount of electricity used by an individual in one yearCost per kilowatt of electricityAverage monthly electric bill for 4-person households in your communityAverage monthly electric bill for each roommate from the last year
Question
You are trying to predict how much money you will spend on electricity if you rent an apartment with 3 other friends. What data do you need?Total amount of electricity used by an individual in one yearCost per kilowatt of electricityAverage monthly electric bill for 4-person households in your communityAverage monthly electric bill for each roommate from the last year
Solution
To predict how much money you will spend on electricity if you rent an apartment with 3 other friends, you would need the following data:
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Total amount of electricity used by an individual in one year: This will give you an idea of how much electricity a single person might use in a year. You can then multiply this by 4 to get an estimate of how much electricity your household might use.
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Cost per kilowatt of electricity: This is the rate at which you will be charged for your electricity usage. You can multiply this by your estimated electricity usage to get an idea of how much you might spend.
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Average monthly electric bill for 4-person households in your community: This can give you a benchmark for what other similar households in your area are spending on electricity. This might be particularly useful if you don't have much other data to go on.
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Average monthly electric bill for each roommate from the last year: This can give you an idea of how much each person is likely to contribute to the electricity bill. If one person tends to use a lot more electricity than the others, this might affect how you decide to split the costs.
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