Year, x Average Monthly Cost to Workers for The table lists the average monthly cost to workers for family health insurance for various years. Family Health Insurance a) Use a graphing calculator to fit a regression line to the data. b) Predict the average monthly cost to workers for family health insurance in 2020, and compare the value with $493.3, which is obtained using the points (1,340) and (4,386). c) Find the correlation coefficient for the regression line, and determine whether the line fits the data closely. $298 2009, 0 2010, 1 2011, 2 340 348 2012, 3 367 2013, 4 386 2014, 5 406 a) The linear equation of the regression line that best models the data is y = x+. (Round to the nearest hundredth as needed.) b) The average monthly cost to workers for family health insurance in 2020 is predicted to be $ (Round to the nearest cent as needed.) Compare the above obtained value with $493.3 This value is $ V $493.3. c) The correlation coefficient is (Round to the nearest thousandth as needed.) Does the regression line fit the data closely? Next

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
The table lists the average monthly cost to workers for family health insurance for various years.
Year, x
Average Monthly Cost to Workers for
Family Health Insurance
$298
a) Use a graphing calculator to fit a regression line to the data.
b) Predict the average monthly cost to workers for family health insurance in 2020, and compare the value with $493.3, which is
obtained using the points (1,340) and (4,386).
c) Find the correlation coefficient for the regression line, and determine whether the line fits the data closely.
2009, 0
2010, 1
2011, 2
340
348
2012, 3
367
2013, 4
2014, 5
386
406
a) The linear equation of the regression line that best models the data is y =x+.
(Round to the nearest hundredth as needed.)
b) The average monthly cost to workers for family health insurance in 2020 is predicted to be $
(Round to the nearest cent as needed.)
Compare the above obtained value with $493.3
This value is $
$493.3
c) The correlation coefficient is
(Round to the nearest thousandth as needed.)
Does the regression line fit the data closely?
Next
F10
吕0
F7
esc
F1
@
23
%$
%
&
2
3
5
6
7
8
Q
W
E
U
Transcribed Image Text:The table lists the average monthly cost to workers for family health insurance for various years. Year, x Average Monthly Cost to Workers for Family Health Insurance $298 a) Use a graphing calculator to fit a regression line to the data. b) Predict the average monthly cost to workers for family health insurance in 2020, and compare the value with $493.3, which is obtained using the points (1,340) and (4,386). c) Find the correlation coefficient for the regression line, and determine whether the line fits the data closely. 2009, 0 2010, 1 2011, 2 340 348 2012, 3 367 2013, 4 2014, 5 386 406 a) The linear equation of the regression line that best models the data is y =x+. (Round to the nearest hundredth as needed.) b) The average monthly cost to workers for family health insurance in 2020 is predicted to be $ (Round to the nearest cent as needed.) Compare the above obtained value with $493.3 This value is $ $493.3 c) The correlation coefficient is (Round to the nearest thousandth as needed.) Does the regression line fit the data closely? Next F10 吕0 F7 esc F1 @ 23 %$ % & 2 3 5 6 7 8 Q W E U
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman