Life Expectancy an Actuary Wanted to Develop a Model to Predict

question 43

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 ( x ₁), the cholesterol level ( x ₂), and the number of points that the individual's blood pressure exceeded the recommended value ( x ₃). 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 + 1.79 x ₁ - 0.021 x ₂ - 0.061 x ₃

S = 9.47 R - Sq = 22.5%
{Life Expectancy Narrative} Interpret the coefficient b ₁.

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Definitions:

Conformity

The act of aligning one's beliefs, attitudes, and behaviors with those of a group or societal norms.

Lowball Technique

A persuasion strategy by which an offer is initially made attractive, but less favorable terms are introduced after commitment is obtained.

Centralised Communication

A form of communication in which all decisions and discussions flow through a central point or leader, common in hierarchical organizations.

Group Pressure

The influence exerted by a group on its members to conform to the group's norms and expectations, often affecting behavior and decision-making.