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 YearsPredict happiness with Age equal = to 60 and income equal to 25,000, 75000, and 125000 HappinessAgeIncome69495200083471230008672112000735216600089689000081371520007548580005648500007556930005751270007760173000835517300085756800082691570006339400007066107000783410900053612000092621580007837116000887957000705188000867710700085491450009373143000644250000487023000694527000665239000767229000887413500081311320008360930009173172000957318300087311370006751960007351167000677125000847510100087711690007548127000714410500085391460006850120000853213800086361270009565155000846713200077341830009674960006333320007732129000103791920008355176000803119500056634900097791900008044189000634973000625492000677636000946418000083541310008457185000857487000684260000736957000857217200090751910009069198000894417300090806400070736100077631890007531410007637129000755714100056607500079511640007755100000765717500067589100082651290005247330008134730005461520006449740007832480007756188000906812700089551710008776135000616112500082777600058527200078752800091791090005747290007931105000

To estimate the regression model, we need to first create a new variable, Age squared, by squaring…

Answered: Researchers often rely on surveys to…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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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