A bank developed a model for predicting the average checking and savings account balance as balance = - 17,949+316 x age + 1,129 xyears education +0.136x household wealth. a. Explain how to interpret the numbers in this model. b. Suppose that a customer is 26 years old, is a college graduate (so that years education = 16), and has a household wealth of $190,000. What is the predicted bank balance?

A bank developed a model for predicting the average checking and savings account balance as balance = - 17,949+316 x age + 1,129 xyears education +0.136x household wealth. a. Explain how to interpret the numbers in this model. b. Suppose that a customer is 26 years old, is a college graduate (so that years education = 16), and has a household wealth of $190,000. What is the predicted bank balance?

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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A bank developed a model for predicting the average checking and savings account balance as balance = - 17,949 + 316 x age + 1,129 x years
education + 0.136x household wealth.
ents
a. Explain how to interpret the numbers in this model.
b. Suppose that a customer is 26 years old, is a college graduate (so that years education = 16), and has a household wealth of $190,000. What is the predicted
bank balance?
Grade
anch
a. The number 17,949
Contents
The number 316
The number 1,129
Plan
The number 0.136
p & Resoui
ary
essible Res
rchase Optic
ommunicatio
Click to select your answer(s) and then click Check Answer.
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remaining
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