Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

According to the 2017 census, just over 90% of Americans have health insurance (CNBC, May 22, 2018). However, a higher percentage of Americans on the

image text in transcribed

According to the 2017 census, just over 90% of Americans have health insurance (CNBC, May 22, 2018). However, a higher percentage of Americans on the lower end of the economic spectrum are still without coverage. Consider a portion of data in the following table relating to insurance coverage (1 for coverage, 0 for no coverage) for 30 working individuals in Atlanta, Georgia. Also included in the table is the percentage of the premium (x1) paid by the employer and the individual's income (x2) (in $1,000 s). 2picture Click here for the Excel Data File a. Analyze the linear probability regression model for insurance coverage with premium percentage (x1) and income (x2) used as the predictor variables. (Negative values should be indicated by a minus sign. Round your answers to 2 decimal places.) b-1. Consider an individual with an income of $67,000. What is the probability that she has insurance coverage if her employer contributes 50% of the premium? (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.) Note: Report the probability between 0 and 1 (not in \%). y^= b-2. What if her employer contributes 75% of the premium? (Round coefficient estimates to at least 4 decimal places and final answer to 2 decimal places.) Note: Report the probability between 0 and 1 (not in \%)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Multinational Business Finance

Authors: David K. Eiteman, Arthur I. Stonehill, Michael H. Moffett

16th Edition

013749601X, 978-0137496013

More Books

Students also viewed these Finance questions

Question

How can you create a supportive context for your personal growth?

Answered: 1 week ago

Question

How do romantic relationships typically escalate and deteriorate?

Answered: 1 week ago