11The sample data provides that ______ fraction of variations in the life insurance policy is explained by income. a0.8120 b0.8548 c0.8998 d0.9471 A life insurance company wishes to examine the relationship between the amount of life insurance held by afamily and family income. From a random sample of households, the company collected the accompanyingdata. The data are in units of thousands of dollars.INSURINCOME973814129Lety =INSUR28075X3DINCOME3038145313735777199432515380718414745272705371285271172455548311667320419446154511634828069507140464136321718732064761445741112516549713082617113332259822817344614633277219482085518048169422736950212754712628180428143370772214921451

We have data for x and y to estimate the regression equation.

Answered: The sample data provides that ______…

The sample data provides that ______ fraction of variations in the life insurance policy is explained by income. a 0.8120 b 0.8548 c 0.8998 d 0.9471

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

11	The sample data provides that ______ fraction of variations in the life insurance policy is explained by income.

a	0.8120
b	0.8548
c	0.8998
d	0.9471

A life insurance company wishes to examine the relationship between the amount of life insurance held by a
family and family income. From a random sample of households, the company collected the accompanying
data. The data are in units of thousands of dollars.
INSUR
INCOME
97
38
141
29
Let
y =
INSUR
280
75
X3D
INCOME
303
81
453
137
357
77
199
43
251
53
807
184
147
45
272
70
537
128
527
117
245
55
483
116
673
204
194
46
154
51
163
48
280
69
507
140
464
136
321
71
873
206
476
144
574
111
251
65
497
130
826
171
133
32
259
82
281
73
446
146
332
77
219
48
208
55
180
48
169
42
273
69
502
127
547
126
281
80
428
143
370
77
221
49
214
51

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