Life Expectancy an Actuary Wanted to Develop a Model to Predict

question 145

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 coefficient of determination? What does this statistic tell you?

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Definitions:

Environmental Factors

Elements of nature and society that can affect an organization's performance, including climate, regulatory policies, and socio-economic conditions.

Consolidation Of Freight

The practice of combining smaller shipments into one larger shipment to reduce transportation costs and improve efficiency.

Alternative Transport Modes

Refers to different means of transportation apart from the conventional ones (car, bus, train), which can include cycling, walking, carpooling, and the use of electric vehicles.

Logistics Cost Reduction

Strategies aimed at minimizing costs associated with the planning, implementation, and control of the flow and storage of goods from point of origin to point of consumption.