In Linear Regression, the Intercept Is 7

question 54

Multiple Choice

In linear regression, the intercept is 7.2 and the slope is 0.64.Calculate the number of claims in projected year 7.

• A)7.84
• B)14.84
• C)11.68
• D)51.04
• E)11.608

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Definitions:

Negative Income Tax

A welfare system within which individuals earning below a certain amount receive supplemental pay from the government instead of paying taxes.

Rawlsian

Pertaining to the philosophical and ethical framework proposed by John Rawls, focusing on justice as fairness and the distribution of resources.

Economic Policy

Refers to the actions that governments take in the economic field, including taxation, government spending, and the regulation of the economy.

Economic Status

The level of economic wealth, or prosperity, achieved by an individual, group, or country, often measured by income, wealth, and employment.