Statistics: Informed Decisions Using Data (4th Edition)

Published by Pearson
ISBN 10: 0321757270
ISBN 13: 978-0-32175-727-2

Chapter 14 - Section 14.3 - Assess Your Understanding - Applying the Concepts - Page 722: 21c

Answer

The median income decreases 7082.26 dollars from 50 to 60 years of age.

Work Step by Step

$x=50$: $ŷ=-55961.675+4314.374\times50-45.66\times50^2=45607.025$ $x=60$: $ŷ=-55961.675+4314.374\times60-45.66\times60^2=38524.765$ $38524.765-45607.025=-7082.26$
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