Assume that you had estimated the following quadratic regression model:

Happiness_hat = 607.3 + 3.85 Income - 0.0423 Income2.

If Income increased from 10 to 11 (income is measured in thousands), then the predicted change in Happiness would be (round to two decimals):

Happiness_hat = 607.3 + 3.85 Income - 0.0423 Income2.

If Income increased from 10 to 11 (income is measured in thousands), then the predicted change in Happiness would be (round to two decimals):

2.96

Regression Methods and Time Series Analysis

Total Views: 81218

For the Actex Course

Teams **This Deck Belongs To**

Deck does not belong to any team.

Flashcard Deck Tags

Flashcard Review

Deck Author

Others Studying this Deck

Free Flashcard From Regression Methods and Time Series Analysis

Question:
Assume that you had estimated the following quadratic regression model:Happiness_hat = 607.3 + 3.85 Income - 0.0423 Income2. If Income increased from 10 to 11 (income is measured in thousands), then the predicted change in Happiness would be (round to two decimals):

Answer:
2.96