Question
Based on the line of fit, how much income can you predict for a 65 year old? a 70,000 b 95,000 C 75,000 d 82,000
Answer
4.1
(227 Votes)
Odette
Elite · Tutor for 8 years
Answer
Without clear information or a concrete linear relationship, an exact answer cannot be determined. Considering usual progression of career and possible stage of retirement for a person who is 65 year old, answer c
seems realistic, as usually earnings peak between late 40s to early 60s depending on the career.
Explanation
## Step 1: As we are not given the actual line of fit with the question, we don't have the precise formula or graph allowing us to determine the income for given value. Instead, we are doing an analysis based on a typical aging to income progression. ## Step 2: Presumably, the income shows a correlation with age and we have to infer it based upon regular changes in income over time. However, this correlation is not always direct and several factors can influence it like economic conditions, professional evolution, eventual retirement. ## Step 3:So to undertake this question in the formal examination scenario where precise values of income across the age extractions were not notably bestowed, we choose an option that seems reasonable given the age range and potential life circumstances. Remember this is built inherently on an assumption and could vary from the direct liner fitting.### Formula used under certain conditions:
, where
is the dependent variable (income),
is the y-intercept,
is the slope and
is graduate output (age).