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A bank developed a model for predicting the average checking and savings account balance as balance = -17,732 + 367 x age + 1,300 x years education + 0.116 x household wealth.

a. Explain how to interpret the 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 $150,000. What is the predicted bank balance?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M91669296

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