bank developed a model for predicting the average checking and savings account balance as balance=−18,438+317×age+1,240×years education+0.108×household wealth. a. Explain how to interpret the numbers in this model. b. Suppose that a customer is 27 years old, is a college graduate (so that years education=16), and has a household wealth of $130,000. What is the predicted bank balance?
bank developed a model for predicting the average checking and savings account balance as balance=−18,438+317×age+1,240×years education+0.108×household wealth. a. Explain how to interpret the numbers in this model. b. Suppose that a customer is 27 years old, is a college graduate (so that years education=16), and has a household wealth of $130,000. What is the predicted bank balance?
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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A bank developed a model for predicting the average checking and savings account balance as
balance=−18,438+317×age+1,240×years education+0.108×household wealth.
a. Explain how to interpret the numbers in this model.
b. Suppose that a customer is 27 years old, is a college graduate (so that years education=16),
and has a household wealth of $130,000.
What is the predicted bank balance?
and has a household wealth of $130,000.
What is the predicted bank balance?
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