Question: Refer to Exercise 17.10, where a multiple regression analysis was performed to predict mens longevity based on the parents and grandparents longevity. In addition to

Refer to Exercise 17.10, where a multiple regression analysis was performed to predict men’s longevity based on the parents’ and grandparents’ longevity. In addition to these data, suppose that the actuary also recorded whether the man was a smoker (1 = yes and 0 = no).

a. Use regression analysis to produce the statistics for this model.

b. Compare the equation you just produced to that produced in Exercise 18.10. Describe the differences.

c. Are smoking and length of life related? Explain.

In exercise 17.10

 Life insurance companies are keenly interested in predicting how long their customers will live because their premiums and profitability depend on such numbers. An actuary for one insurance company gathered data from 100 recently deceased male customers. He recorded the age at death of the customer plus the ages at death of his mother and father, the mean ages at death of his grandmothers, and the mean ages at death of his grandfathers.

Step by Step Solution

3.33 Rating (156 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

a b y 324 451Mother 411Father 0166Gmothers 0869Gfathers There are large di... View full answer

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

Document Format (2 attachments)

PDF file Icon

1429_6054778a9a115_669632.pdf

180 KBs PDF File

Word file Icon

1429_6054778a9a115_669632.docx

120 KBs Word File

Students Have Also Explored These Related Statistics for Management Questions!