A life insurance company wishes to examine the relationship between the amount of life insurance held by a family and family income. From a random sample of households, the company collected the accompanying data. The data are in units of thousands of dollars. INSUR INCOME 97 38 141 29 Let y = INSUR 280 75 X = INCOME 303 81 453 137 357 77 199 43 251 53 807 184 147 45 272 70 537 128 527 117 245 55 483 116 673 204 194 46 154 51 163 48 280 69 507 140 464 136 321 71 873 206 476 144 574 111 251 65 497 130 826 171 133 32 259 82 281 73 446 146 3 The vertical intercept of the estimated regression equation is 332 77 a 11.009 219 48 b 9.830 208 55 8.776 180 48 d 7.836 169 42 273 69 502 127 547 126 281 80 428 143 370 77 221 49 214 51

A life insurance company wishes to examine the relationship between the amount of life insurance held by a family and family income. From a random sample of households, the company collected the accompanying data. The data are in units of thousands of dollars. INSUR INCOME 97 38 141 29 Let y = INSUR 280 75 X = INCOME 303 81 453 137 357 77 199 43 251 53 807 184 147 45 272 70 537 128 527 117 245 55 483 116 673 204 194 46 154 51 163 48 280 69 507 140 464 136 321 71 873 206 476 144 574 111 251 65 497 130 826 171 133 32 259 82 281 73 446 146 3 The vertical intercept of the estimated regression equation is 332 77 a 11.009 219 48 b 9.830 208 55 8.776 180 48 d 7.836 169 42 273 69 502 127 547 126 281 80 428 143 370 77 221 49 214 51

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter4A: Problems In Applying The Linear Regression Model

Section: Chapter Questions

Problem 1E

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