document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=874851>Question 874851</A>: <I><SPAN STYLE=\"word-break: break-all;\"> The following information refers to the next four questions:<BR>\n" );
document.write( "An insurance company wishes to examine the relationship between income (in $,000) and the amount of life insurance (in $,000) held by families. The company drew a simple random sample of families and obtained the following results:<BR>\n" );
document.write( "Family	Income	Amount of life insurance<BR>\n" );
document.write( "A			50	120<BR>\n" );
document.write( "B	80	200<BR>\n" );
document.write( "C	100	220<BR>\n" );
document.write( "D	80	160<BR>\n" );
document.write( "E	80	180<BR>\n" );
document.write( "F	120	270<BR>\n" );
document.write( "G	70	150<BR>\n" );
document.write( "H	100	240<BR>\n" );
document.write( "I	60	160<BR>\n" );
document.write( "J	90	210\r<BR>\n" );
document.write( "\n" );
document.write( "QUESTION 21<BR>\n" );
document.write( "What is the least squares estimate of the slope?<BR>\n" );
document.write( "Answer should be to four decimal places e.g. 1.2345.<BR>\n" );
document.write( "Please do NOT include any units in your answer.<BR>\n" );
document.write( "	 \r<BR>\n" );
document.write( "\n" );
document.write( "QUESTION 22<BR>\n" );
document.write( "What is the least squares estimate of the Y intercept?<BR>\n" );
document.write( "Answer should be to four decimal places e.g. 1.2345.<BR>\n" );
document.write( "Please do NOT include any units in your answer.<BR>\n" );
document.write( "	 \r<BR>\n" );
document.write( "\n" );
document.write( "QUESTION 23<BR>\n" );
document.write( "What is the prediction for the amount of life insurance for a family whose income is $85,000?<BR>\n" );
document.write( "Answer should be to four decimal places and be consistent with your original data set, e.g. if your answer was $75,410.90, you would enter 75.4109 as your answer.<BR>\n" );
document.write( "Please do NOT include any units in your answer.<BR>\n" );
document.write( "	 \r<BR>\n" );
document.write( "\n" );
document.write( "QUESTION 24<BR>\n" );
document.write( "What would be the residual (error) term for a family income of $90,000?<BR>\n" );
document.write( "Answer should be to four decimal places and be consistent with your original data set e.g. if your answer was $940.90, you would enter 0.9409. If your answer was $9,400.90, you would enter 9.4009 etc..<BR>\n" );
document.write( "Please do NOT include any units in your answer.<BR>\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #527775 by </B><A HREF=/tutors/aboutme.mpl?userid=ewatrrr><B>ewatrrr(24785)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=ewatrrr><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=ewatrrr><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=527775\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">   Used Excel scatter plot format  <BR>\n" );
document.write( " <IMG STYLE=\"max-width:80%;\" SRC=\"/cgi-bin/display-illustration.mpl?tutor=ewatrrr&illustration_name=scatter_16_2\">.<BR>\n" );
document.write( "What is the least squares estimate of the slope? 2.1181<BR>\n" );
document.write( "What is the least squares estimate of the Y intercept? 15.197<BR>\n" );
document.write( "What is the prediction for the amount of life insurance for a family whose income is $85,000?<BR>\n" );
document.write( "y(85) = 2.1181(85) + 15.197 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );