4. Our R² implies that lots of stuff, other than health, also affects doctor visits. One such thing is a person's insurance status. The data file includes a third variable that records whether the person had health insurance during 2019. Estimation a regression of the form y = Bo + B₁x₁ + ₂x₂ where x₁ is the health status variable from above, but now x₂ records whether the person had insurance. a) Interpret the estimate of B, in words. b) Interpret the estimate of B2 in words. c) Forecast a person's number of doctor visits in 2019 if he/she was in excellent health, but did not have insurance.

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4. Our R² implies that lots of stuff, other than health, also affects doctor visits. One such thing is a
person's insurance status. The data file includes a third variable that records whether the person had
health insurance during 2019. Estimation a regression of the form y = Bo + B₁x1 + B₂x₂ where x₁ is the
health status variable from above, but now x₂ records whether the person had insurance.
a) Interpret the estimate of B₁ in words.
b) Interpret the estimate of B₂ in words.
c) Forecast a person's number of doctor visits in 2019 if he/she was in excellent health, but did not have
insurance.
d) Forecast a person's number of doctor visits in 2019 if he/she was in poor health, and did have
insurance.
e) The R² for this regression is
Transcribed Image Text:4. Our R² implies that lots of stuff, other than health, also affects doctor visits. One such thing is a person's insurance status. The data file includes a third variable that records whether the person had health insurance during 2019. Estimation a regression of the form y = Bo + B₁x1 + B₂x₂ where x₁ is the health status variable from above, but now x₂ records whether the person had insurance. a) Interpret the estimate of B₁ in words. b) Interpret the estimate of B₂ in words. c) Forecast a person's number of doctor visits in 2019 if he/she was in excellent health, but did not have insurance. d) Forecast a person's number of doctor visits in 2019 if he/she was in poor health, and did have insurance. e) The R² for this regression is
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