Thirty Employed Single Individuals Were Randomly Selected to Examine the Relationship

question 60

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 predicted percentage debt of a 45-year-old employed single person determined by the model with the best fit?

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Definitions:

Standard Deduction

A fixed dollar amount that reduces the income you're taxed on, which varies according to your filing status.

Single Taxpayer

A tax filing status for individuals who are unmarried, divorced, or legally separated, and do not qualify for another filing status.

Situational Approach

A leadership framework which suggests that the most effective style of leadership is contingent upon the situation at hand.

Criticism

The expression of disapproval of someone or something based on perceived faults or mistakes.