The output below regresses Life Expectancy in a country on Log(Average Income). Theequation for the regression is given by:Life Expectancy; = ßo + B₁ Log(Average Income); + ɛiWhat is the predicted life expectancy for a country with average income equal to $40,000?Note: Log(Averagelncome) is the natural logarithm of average income, not log base 10.reg life expectancy log_incomeSourceSSdfMSNumber of obs =F(1, 184)186=386.30ModelResidual5714.788082722.033991841 5714.7880814.793663Prob > F=0.0000R-squared=0.6774Total8436.82208185 45.6044436Adj R-squared =Root MSE0.6756=3.8463life expec~yCoefficient Std. err.tP>|t|[95% conf. interval]log_income_ cons4.726684 .240488528.68847 2.24413919.65 0.00012.78 0.0004.25221424.260925.20115333.11602

Step 1: Objective and ConceptObjective:-To determine the prediction of life expectancy with the…

Answered: The output below regresses Life…

COMPREHENSIVE MICROSOFT OFFICE 365 EXCE

1st Edition

ISBN:9780357392676

Author:FREUND, Steven

Publisher:FREUND, Steven

Chapter6: Creating, Sorting, And Querying A Table

Section: Chapter Questions

Problem 6EYK

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