Insurance companies and other organizations use actuarial tables to estimate the remaining lifespans of their customers. The
Question:
Insurance companies and other organizations use actuarial tables to estimate the remaining lifespans of their customers. The data file gives life expectancy and estimated additional years of life for black males in the United States, according to a 2016 National Vital Statistics Report. (Data in Years to Live 2016)
a) Fit a regression model to predict Life expectancy from Age. Does it look like a good fit? Now plot the residuals.
b) Find a re-expression to create a better model. Predict the life expectancy of an 18-year-old black man.
c) Are you satisfied that your model has accounted for the relationship between Life expectancy and Age?
Step by Step Answer:
Intro Stats
ISBN: 9780134668420
5th Edition
Authors: Richard D De Veaux, Paul F Velleman, David E Bock, Nick Horton