Question: 7. A bank developed a model for predicting the average checking and savings account balance as balance 17,732 367 age 1300

7. A bank developed a model for predicting the average checking and savings account balance as balance 17,732 367 age 1300 years education

0.116 household wealth.

a. Explain how to interpret the numbers in this model.

b. Suppose that a customer is 36 years old, is a college graduate (so that years education 16), and has a household wealth of $175,000. What is the predicted bank balance?

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