Suppose the following equation describes the relationship between life expectancy (measured in years) and annual real income per capita (measured in 1000s of US $) for a sample of countries in 2015. Life expectancy =68.01 + 0.27 income

a.)Sketch the line described by this equation. Does the intercept have an economically meaningful (i.e., practical) interpretation? Briefly explain.

b.)What is the average life expectancy in a country where the annual average real income per capita is $20,000?

c.)What is the difference in life expectancy between a country where income per capita is $10,000 and a country where income per capita is 50,000?

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a To sketch the line described by the equation Life expectancy 6801 027 income you can plot it on a ... View the full answer