A researcher uses a regression equation to predict home heating bills (dollar cost), based on home size (square feet). The correlation between predicted bills and home size is 0.70. What is the...

A researcher uses a regression equation to predict home heating bills (dollar cost), based on home size (square feet). The correlation between predicted bills and home size is 0.70. What is the correct interpretation of this finding? explain.

(A) 70% of the variability in home heating bills can be explained by home size.

(B) 49% of the variability in home heating bills can be explained by home size.

(C) For each added square foot of home size, heating bills increased by 70 cents.

(D) For each added square foot of home size, heating bills increased by 49 cents.

(E) None of the above.