Posted by **danial** on Tuesday, February 9, 2010 at 10:34pm.

An insurance company wishes to examine the relationship between income (in $,000) and the amount of life insurance (in $,000) held by families. The company drew a simple random sample of families and obtained the following results:

Family(Income)(Amount of life insurance)

A 50 120

B 80 200

C 100 220

D 80 160

E 80 180

F 120 270

G 70 150

H 100 240

I 60 160

J 90 210

What is the least squares estimates of the slope?

What is the least squares estimate of the Y intercept?

What is the prediction for the amount of life insurance for a family whose income is $85,000?

What would be the residual (error) term for a family income of $90,000?

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