Predicting average checking and savings account balance

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Reference no: EM13857460

This is part of Business Analytics / Data Analytics course I am taking at a community college -

Question:-

A bank developed a model for predicting the average checking and savings account balance as balance=-17732+367*age+1300*years education+0.116*household wealth

a. Explain how to interpret numbers in this model

b. Suppose that a customer is 32 years old, is a college graduate (so that years education=16) and has a household wealth of $150000. What is the predicted bank balance?

Reference no: EM13857460

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