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The following data were collected during a study of consumer buying patterns 28 78 30 77 37 8e 29 81 47 94 45 98 31 81 14 79 12 72 17 67 18 82 26 92 29 89 10 12 13 b. Obtain a linear regression line for the data (Round your intermediate calculations and final answers to 3 decimal places.) c. What percentage of the variation is explained by the regression line? (Do not round intermediate calculations. Round your answer to the nearest whole percent. Omit the % sign in your response.) Approximately 7% of the variation in the dependent variable is explained by the independent variable. d. Use the equation determined in part b to predict the expected value of y for x42. (Round your intermediate calculations and final answers to 3 decimal places.)
Problem 3-23 Long-Life Insurance has developed a linear model that it uses to determine the amount of term lfe insurance a family of four should have, based on the current age of the head of the household. The equation is: y=162-040x where y Insurance needed ($000) x Current age of head of household b. Use the equation to determine the amount of term life insurance to recommend for a family of four if the head of the household is 52 years old. (Round your answer to 2 decimal places. Omit the $ sign in your response.) Amount of term life insurance $[ ]thousands
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