Question: d. Age has the highest correlation, so construct a model: charges = intercept + slope smoke01 slope age using the Regression tool in Excel. Request

d. Age has the highest correlation, so construct a model: charges = intercept + slope smoke01 slope age using the Regression tool in Excel. Request Residuals and Residual Plots. Copy the 3 SUMMARY OUTPUT Repression Statistics Multiple R 0.84935 R Square 0.7214 Adjusted R Square 0.72098 Standard Error 6396.75 Observations 1338 ANOVA Regression Residual Total ss MS F En conce 2 14+11 7.1E-10 1728.42 1339 5 SE30 41.07 1337 2.11 Coefficientsandard Em Star Puolue Lower 95 User 95 Mower 95.0Seper 95.0% Intercept -239163 528.302 452701 6.SE-06 3428.02 -335523-3428.02 -1355.23 smokers 238553 433.488 55031 0 230049 24705.7 230049 247057 274871 12.4553 22068625-92 250.87 299 305 250.437 299 305 tables from the SUMMARY OUTPUT into your assignment. You do not need to show the RESIDUAL OUTPUT e. Write out the estimated regression formula. Estimated Average Charges -- 52,391.6 + slope 23,855.3 - slope 274.9 1. Explain the meaning of the coefficient for age. What is the R-sq and standard error for the overall model? h. Has the accuracy of the model improved? Explain. Page 9 of 9

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