In a study of the demand for life insurance, Executive Insurers, Inc., is examining the factors that affect the amount of life insurance held by executives. The following data on the amount of insurance held by executives. The following data on the amount of insurance and annual incomes of a random sample of 12 executives were collected 2. In a study of the demand for life insurance, Executive Insurers, Inc., is examining thefactors that affect the amount of life insurance held by executives. The following data onthe amount of insurance held by executives. The following data on the amount ofinsurance and annual incomes of a random sample of 12 executives were collected.ObservationAmount of Life InsuranceAnnual Income{x$1,000){x $1.000501808422574210115150104150561351021501041015010811651258a. Given the nature of the problem, which would be the dependent variable and whichwould be the independent variable?b. Plot the datac. Determine the estimated regression line. Give an economic interpretation of the slope(b) coefficient.d. Test the hypothesis that there is no relationship (i.e., B = 0) between the variables.e. Calculate the coefficient of determination.f. Perform an analysis of variance on the regression, including an F-test of the overallsignificance of the results.g. Determine the best estimate, based on the regression model, of the amount of lifeinsurance held by an executive whose annual income is $80,000. Construct anapproximate 95-percent prediction interval.

Name: In a study of the demand for life insurance, Executive Insurers, Inc.,
Uploaded: 2024-03-20T07:06:27.000Z
Channel: Bartleby
Description: In a study of the demand for life insurance, Executive Insurers, Inc., is examining the factors that affect the amount of life insurance held by executives. The following data on the amount of insurance held by executives. The following data on the a