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You are interested to know how well the insurance charges for members of this particular medical plan can be estimated based on key demographics, including age, gender, BMI, smoking status, and region. At first you are interested in exploring the effect of each individual variable separately on the dependent variable.
Part : Wrap up and Design of Future Experiments
1. Can you think of any other IVs that are not included in the dataset, but may be an important metric to judge an insurance company's costs? Comment on the ease/difficulty of obtaining that data. Also, submit a plan on how to collect the data, who the target audience should be, how to ensure that the sample is as unbiased as possible.
2. Now that you have done three projects with the same dataset, provide a brief summary of your findings and recommendations.
What the monthly payment for Mr. Miller is? Your bank is willing to offer Mr. Miller a loan for the entire amount at 9% interest (APR) per annum.
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