Post a New Question

Statistics

posted by .

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, 80, 120
B, 100, 200
C, 110, 220
D, 90, 160
E, 80, 180
F, 140, 270
G, 110, 150
H, 100, 240
I, 80, 160
J, 100, 210

QUESTION a
What is the least squares estimate of the slope?
Answer should be to four decimal places e.g. 1.2345.
QUESTION b
What is the least squares estimate of the Y intercept?
Answer should be to four decimal places e.g. 1.2345.
QUESTION c
What is the prediction for the amount of life insurance for a family whose income is $85,000?
QUESTION d
What would be the residual (error) term for a family income of $90,000?

  • Statistics -

    We do not do your homework for you. Although it might take more effort to do the work on your own, you will profit more from your effort. We will be happy to evaluate your work though.

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question