Explain how to interpret the numbers in model

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A credit union developed a model for predicting the average checking and savings account balance as

Balance = -12,500 + 250 X age + 1120 X years of education + 0.16 X yearly earnings

a. Explain how to interpret the numbers in this model.

b. Suppose that a customer is 65 years old, is a high school graduate (so that years of education = 12) and has a yearly earnings of $80,000. What is the predicted bank balance?

Reference no: EM133282355

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