Exhibit 16

question 91

Essay

Exhibit 16.6.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. Refer to Exhibit 16.6.Suppose the restriction β₃ = 0 is imposed on the cubic model Debt = β₀ + β₁Age + β₂Age²+ β₃Age³ + ε.What regression equation is obtained under this restriction?

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