Researchers often rely on surveys to capture a subjective assessment of well-being. One study finds that holding everything else constant, people seem to be least happy when they are in their 40's. Another study suggests that money does buy happiness, but its effects diminishes as income rises above $75000 a year. The accompanying data file includes survey daa of 100 working adults' self-assessed happiness on a scale of ) to 100, along with their age and annual income.
Estimate and interpret a regression model based on Age, Age 2 and income.
Predict happiness with income equal = to $80000 and age equal to 30, 45, and 60 Years
Predict happiness with Age equal = to 60 and income equal to 25,000, 75000, and 125000
Happiness | Age | Income |
69 | 49 | 52000 |
83 | 47 | 123000 |
86 | 72 | 112000 |
73 | 52 | 166000 |
89 | 68 | 90000 |
81 | 37 | 152000 |
75 | 48 | 58000 |
56 | 48 | 50000 |
75 | 56 | 93000 |
57 | 51 | 27000 |
77 | 60 | 173000 |
83 | 55 | 173000 |
85 | 75 | 68000 |
82 | 69 | 157000 |
63 | 39 | 40000 |
70 | 66 | 107000 |
78 | 34 | 109000 |
53 | 61 | 20000 |
92 | 62 | 158000 |
78 | 37 | 116000 |
88 | 79 | 57000 |
70 | 51 | 88000 |
86 | 77 | 107000 |
85 | 49 | 145000 |
93 | 73 | 143000 |
64 | 42 | 50000 |
48 | 70 | 23000 |
69 | 45 | 27000 |
66 | 52 | 39000 |
76 | 72 | 29000 |
88 | 74 | 135000 |
81 | 31 | 132000 |
83 | 60 | 93000 |
91 | 73 | 172000 |
95 | 73 | 183000 |
87 | 31 | 137000 |
67 | 51 | 96000 |
73 | 51 | 167000 |
67 | 71 | 25000 |
84 | 75 | 101000 |
87 | 71 | 169000 |
75 | 48 | 127000 |
71 | 44 | 105000 |
85 | 39 | 146000 |
68 | 50 | 120000 |
85 | 32 | 138000 |
86 | 36 | 127000 |
95 | 65 | 155000 |
84 | 67 | 132000 |
77 | 34 | 183000 |
96 | 74 | 96000 |
63 | 33 | 32000 |
77 | 32 | 129000 |
103 | 79 | 192000 |
83 | 55 | 176000 |
80 | 31 | 195000 |
56 | 63 | 49000 |
97 | 79 | 190000 |
80 | 44 | 189000 |
63 | 49 | 73000 |
62 | 54 | 92000 |
67 | 76 | 36000 |
94 | 64 | 180000 |
83 | 54 | 131000 |
84 | 57 | 185000 |
85 | 74 | 87000 |
68 | 42 | 60000 |
73 | 69 | 57000 |
85 | 72 | 172000 |
90 | 75 | 191000 |
90 | 69 | 198000 |
89 | 44 | 173000 |
90 | 80 | 64000 |
70 | 73 | 61000 |
77 | 63 | 189000 |
75 | 31 | 41000 |
76 | 37 | 129000 |
75 | 57 | 141000 |
56 | 60 | 75000 |
79 | 51 | 164000 |
77 | 55 | 100000 |
76 | 57 | 175000 |
67 | 58 | 91000 |
82 | 65 | 129000 |
52 | 47 | 33000 |
81 | 34 | 73000 |
54 | 61 | 52000 |
64 | 49 | 74000 |
78 | 32 | 48000 |
77 | 56 | 188000 |
90 | 68 | 127000 |
89 | 55 | 171000 |
87 | 76 | 135000 |
61 | 61 | 125000 |
82 | 77 | 76000 |
58 | 52 | 72000 |
78 | 75 | 28000 |
91 | 79 | 109000 |
57 | 47 | 29000 |
79 | 31 | 105000 |
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