Healthcare is expensive. Majority of people in the US cannot afford the rising costs of insurance....

Healthcare is expensive. Majority of people in the US cannot afford the rising costs of insurance. Below is a data set of the age and cost of healthcare.

age	19	18	28	33
charges	16884.92	1725.552	4449.462	21984.47

What is the coefficient of determination between the age and charges? Have age as the predictor and charges as the criterion. Show your work.
What does our predictive model tell us?
Calculate the standard error of estimate. Does the error seem high or low? Why or why not?

I need help on how to solve step by step for question #3

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Expert Solution

The regression model is

variable age (predictor).

orchestra answered 1 year ago

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