A bank developed a model for predicting the average checking and savings account balance as balance = - 17,949+316 x age + 1,129 xyears education +0.136x household wealth. a. Explain how to interpret the numbers in this model. b. Suppose that a customer is 26 years old, is a college graduate (so that years education = 16), and has a household wealth of $190,000. What is the predicted bank balance?

A bank developed a model for predicting the average checking and savings account balance as balance = - 17,949+316 x age + 1,129 xyears education +0.136x household wealth. a. Explain how to interpret the numbers in this model. b. Suppose that a customer is 26 years old, is a college graduate (so that years education = 16), and has a household wealth of $190,000. What is the predicted bank balance?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.6: Summarizing Categorical Data

Problem 22PPS

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