Question: developed a model for predicting the average checking and savings account balance as balance = -19,681 +326x age +1,347 x years education +0.117x household


developed a model for predicting the average checking and savings account balance as balance = -19,681 +326x age +1,347 x years education +0.117x household wealth. a. Explain how to interpret the numbers in this model b. Suppose that a customer is 35 years old, is a college graduate (so that years education = 16), and has a household wealth of $160,000. What is the predicted bank balance? a. The number - 19,681 The number 326 The number 1,347 The number 0.117 means that the average account balance decreases by $0.117 for each $1 increase in household wealth. means that the average account balance increases by $0.117 for each $1 increase in household wealth. means that the average account balance decreases by 0.117% for each $1 increase in household wealth. means that the average account balance increases by 0.117% for each $1 increase in household wealth. dons not have a moaningful internratation developed a model for predicting the average checking and savings account balance as balance = -19,681 +326x age +1,347 x years education +0.117x household wealth. a. Explain how to interpret the numbers in this model b. Suppose that a customer is 35 years old, is a college graduate (so that years education = 16), and has a household wealth of $160,000. What is the predicted bank balance? a. The number - 19,681 The number 326 The number 1,347 The number 0.117 means that the average account balance decreases by $0.117 for each $1 increase in household wealth. means that the average account balance increases by $0.117 for each $1 increase in household wealth. means that the average account balance decreases by 0.117% for each $1 increase in household wealth. means that the average account balance increases by 0.117% for each $1 increase in household wealth. dons not have a moaningful internratation
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