A health economist is investigating whether there is any relationship between people's age and their medical expenses.
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Question:
A health economist is investigating whether there is any relationship between people's age and their medical expenses. He gathered data concerning the age and average daily medical expenses of a random sample of 20 Australians during the previous 12-month period. The data are shown below.
To answer the following questions, you may use these results:
(i) Determine the equation of the regression line to predict the daily medical expense by a person's age.
(ii) Find the coefficient of determination.
(iii) Can we conclude at the 5% significance level that higher ages result in higher daily medical expenses?
Related Book For
Statistics for the Life Sciences
ISBN: 978-0321989581
5th edition
Authors: Myra Samuels, Jeffrey Witmer, Andrew Schaffner
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