4The estimated regression equation predicts that for each additional $1,000 income life insurance policy will rise by _______ ($1,000) a3.056 b3.820 c4.774 A life insurance company wishes to examine the relationship between the amount of life insurance held by afamily and family income. From a random sample of households, the company collected the accompanyingdata. The data are in units of thousands of dollars.INSURINCOME973814129Lety =INSUR28075X3DINCOME3038145313735777199432515380718414745272705371285271172455548311667320419446154511634828069507140464136321718732064761445741112516549713082617113332259822817344614633277219482085518048169422736950212754712628180428143370772214921451

The regression equation for Y (i.e., dependent variable "insurance") on X (i.e., the independent…

Answered: A life insurance company wishes to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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4. MANUFACTURING Zeller Industries bought a piece of weaving equipment for $60,000. It is expected to depreciate at an average rate of 10% per year. a. Write an equation for the value of the piece of equipment after t years. b. Find the value of the piece of equipment after 6 years.
You plan to invest $100 per month in a 401k, you are promised an average of 4% return over the next 40 years. Your employer will match 50% of your deposits. What would you type into Excel to estimate how much money should be in the 401k after 40 years? O =PMT(.04/12, 40*12,-150) O =PV(.04, 3*40*12,-150) O -150(1.04)40-12 O =FV(.04/12, 40*12,-100) O =FV(.04/12, 12*40, -150) 12.40 O 100 (1 + 12)
The table below shows the value, V, of an investment (in dollars) n years after 1992. 1 3 7 4120 4283 4919 12 14 5874 6050 n V(n) 6663 Use your calculator to determine the exponential regression equation that models the set of data above. Round the "a" value to the nearest whole number, and round the "b" value to three decimals. Use the indicated variables and proper function notation. V(n) Based on the your regression model, what is the percent increase per year? The value of this investment is increasing at a rate of % per year. Based the your regression model, what is value of this investment in the year 1992? Round your answer to the nearest dollar. The value of this investment is $ in the year 1992. Based on the your regression model, what is value of this investment in the year 2002? Round your answer to the nearest dollar. The value of this investment is S in the year 2002.
A new car that sells for $19,000 depreciates (decreases in value) 21% each year. What is the decay factor, b?
The regression line, y = 23.4 -0.07x, passes the horizontal axis at 334.3 -0.07 O -23.4 0.07 23.4 O-334.3
Recently there has been a rise in fatal accidents caused by “distracted driving.” The United States National Highway Traffic Safety Administration (NHSTA) defines a distraction as anything that diverts attention from driving. The following model estimates the trend in distracted driving accidents over time based on data from the NHSTA:D = 0.015t - 29.97 In this model, D is the decimal to be turned into a percentage of all fatal accidents caused by distracted driving, and t is any calendar year between 2000 and 2020. Use the model to estimate the rate for 2005 and 2020. Note: this means to plug n 2005 for t and simplify and then turn your answer into a percent. Then plug in 2020 for t and simplify and then turn your answer into a percent.
Suppose your home is worth $500,000 and its worth decreases by 4.1% per year. What will your home be worth in 3 years? Round your answer to two decimal places and put the comma in the appropriate location. You do not need to include the "$" in your answer.
The fitted regression is Sales = 842 − 37.5 Price. (a-1) If Price = 1, what is the prediction for Sales? (Round your answer to 1 decimal place.) (b) If Price = 20, what is the prediction for Sales?
Regression was used to determine if the number of beers a person drinks predicts blood alcohol content (BAC) in a random sample of college students. The results are in the table below. Intercept Beers Coefficients Standard Error 0.013 0.002 -0.013 0.018 t Stat P-value -1.005 0.332 7.480 2.97E-06 Write out the answers to each of the following questions and upload a picture of yo a. Write out the prediction equation. b. Interpret the slope. c. What is the predicted value for BAC for someone who drank 3 beers? Show your work. d. If the number of beers equals 5 and the BAC equals 0.10, what is the residual? Show your work.

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4	The estimated regression equation predicts that for each additional $1,000 income life insurance policy will rise by _______ ($1,000)

a	3.056
b	3.820
c	4.774