Life Expectancy an Actuary Wanted to Develop a Model to Predict

question 26

Essay

Life Expectancy
An actuary wanted to develop a model to predict how long individuals will live.After consulting a number of physicians,she collected the age at death (y),the average number of hours of exercise per week (x₁),the cholesterol level (x₂),and the number of points that the individual's blood pressure exceeded the recommended value (x₃).A random sample of 40 individuals was selected.The computer output of the multiple regression model is shown below. THE REGRESSION EQUATION IS y = 55.8 + 1.79x₁− 0.021x₂− 0.061x₃ ​ S = 9.47 ​ R−Sq = 22.5% ANALYSIS OF VARIANCE ​ ​
-{Life Expectancy Narrative} What is the adjusted coefficient of determination in this situation? What does this statistic tell you?

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Definitions:

Optimizing Behavior

Actions or decision-making processes aimed at achieving the best possible outcome or maximizing effectiveness under given circumstances.

Strengths

The natural talents and abilities that individuals possess which enable them to perform at their best.

Flow

A mental state in which a person performing an activity is fully immersed in a feeling of energized focus, full involvement, and enjoyment.

External Rewards

Incentives provided by external factors, such as money, praise, or trophies, which motivate behavior.