Question: The table lists the average monthly cost to workers for family health insurance for various years. a) Use a graphing calculator to fit a regression

The table lists the average monthly cost to workers for family health insurance for various years.

a) Use a graphing calculator to fit a regression line to the data.

b) Predict the average monthly cost to workers for family health insurance in

2018,

and compare the value with

$453,

which is obtained using the points

(1,333)

and

(4,378).

c) Find the correlation coefficient for the regression line, and determine whether the line fits the data closely.

Year, x

Average Monthly Cost to Workers for Family Health Insurance

2009, 0

$

292

2010, 1

333

2011, 2

342

2012, 3

360

2013, 4

378

2014, 5

402

Question content area bottom

Part 1

a) The linear equation of the regression line that best models the data is

y=enter your response herex+enter your response here.

(Round to the nearest hundredth as needed.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!