Thirty Employed Single Individuals Were Randomly Selected to Examine the Relationship

question 89

Short Answer

Thirty employed single individuals were randomly selected to examine the relationship between their age (Age) and their credit card debt (Debt) expressed as a percentage of their annual income. Three polynomial models were applied and the following table summarizes Excel's regression results. What is the estimate of the variance of the random error ε provided by the regression equation with the best fit?

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Definitions:

Environmental Conditions

These are the external factors and surroundings, including weather, climate, and other living and non-living elements, that affect organisms and ecosystems.

Active

Engaging in physical or mental activities, showing energetic work or participation.

Inactive

Inactive refers to a state of not engaging in physical activity or movement, often leading to a decline in health and fitness.

Chromosomes

Thread-like structures located inside the nucleus of animal and plant cells, made of protein and a single molecule of DNA, carrying genetic information.