(1 point) The table below shows the average incomes and expenditures for the U.S. population in...

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(1 point) The table below shows the average incomes and expenditures for the U.S. population in 2007 for various age groups. 35-44 (40) $ 76540 45-54 (50) $ 80560 $ 2315 $ 2792 Age Range (representative age for regression) Under 25 (20) Income Before Taxes $31443 $ 800 Healthcare Spending 25-34 (30) $ 57256 $ 1740 Note: When asked to enter a dollar amount below, do not include commas. For example, write "50000" rather than "50,000". You must round to two decimal places for the numbers in your model. Remember also that capitals matter, use only capital letter for the variables in this problem. a) Let I represent the income and A represent the age. Use all the data points and a tool to compute linear regression to find a linear model for the data. (Use the number in parentheses for each age group. For example, use 20 for the "Under 25" data point.) I= 1666.35 m1== b) Using the equation you found in a), at what age will the average income first be $50,000? (Round to the nearest whole num Average income will be $ 31443 at age 25 c) Using the equation you found in a), what will the average income be at age 60 years? (Round to the nearest dollar) According to my model, the average income at 60 years would be about $ 103108.50 d) What is the slope of the equation you found in a) rounded to two decimal places? 1666.35 e) What is the meaning of the slope of the equation you found in a)? Income before taxes is increasing by 1666.35 dollars per year in age 1) Let H represent the Healthcare spending and A represent the age. Use all the data points and a tool to compute linear regression to find a linear model for the data. (Use the number in parentheses for each age group.) H = 0.9869 g) What is the slope of the equation you found in f) rounded to two decimal places? m= 65.51 h) What is the meaning of the slope of the equation you found in f)? For every 1 year 65.51 Y increase dollars Y in healthcare spending income before taxes Y increases Source: 2007 Consumer Expenditure Survey, U.S. Bureau of Labor Statistics. http://www.michigan.gov/documents/treasury/Components_of_Michigan_Income-Effects_of_An_Aging Population_340170_7.pdf by (1 point) The table below shows the average incomes and expenditures for the U.S. population in 2007 for various age groups. 35-44 (40) $ 76540 45-54 (50) $ 80560 $ 2315 $ 2792 Age Range (representative age for regression) Under 25 (20) Income Before Taxes $31443 $ 800 Healthcare Spending 25-34 (30) $ 57256 $ 1740 Note: When asked to enter a dollar amount below, do not include commas. For example, write "50000" rather than "50,000". You must round to two decimal places for the numbers in your model. Remember also that capitals matter, use only capital letter for the variables in this problem. a) Let I represent the income and A represent the age. Use all the data points and a tool to compute linear regression to find a linear model for the data. (Use the number in parentheses for each age group. For example, use 20 for the "Under 25" data point.) I= 1666.35 m1== b) Using the equation you found in a), at what age will the average income first be $50,000? (Round to the nearest whole num Average income will be $ 31443 at age 25 c) Using the equation you found in a), what will the average income be at age 60 years? (Round to the nearest dollar) According to my model, the average income at 60 years would be about $ 103108.50 d) What is the slope of the equation you found in a) rounded to two decimal places? 1666.35 e) What is the meaning of the slope of the equation you found in a)? Income before taxes is increasing by 1666.35 dollars per year in age 1) Let H represent the Healthcare spending and A represent the age. Use all the data points and a tool to compute linear regression to find a linear model for the data. (Use the number in parentheses for each age group.) H = 0.9869 g) What is the slope of the equation you found in f) rounded to two decimal places? m= 65.51 h) What is the meaning of the slope of the equation you found in f)? For every 1 year 65.51 Y increase dollars Y in healthcare spending income before taxes Y increases Source: 2007 Consumer Expenditure Survey, U.S. Bureau of Labor Statistics. http://www.michigan.gov/documents/treasury/Components_of_Michigan_Income-Effects_of_An_Aging Population_340170_7.pdf by