QUESTION 7 A mortgage department of a large bank is studying its recent loans. O

Question

QUESTION 7 A mortgage department of a large bank is studying its recent loans. Of particular interest is how such factors such as the value of the home (in thousands of dollars) and the education level of the head of the household relate to family income. A few rows of the data collected are reproduced below. Income ($1000s) 40.3 39.6 40.8 etc. Value($1000s) Years of Education 190 121 8 You are answering a question about the yalue. The answer you get from your equation is 39.6318. How should you answer the question about the value? Round the answer to the appropriate decimal place and express in the appropriate units O a $40 O b $39.6318 OC$40.000 od $39,632

Explanation / Answer

Since the value is measured in thousands, the value of 39.6318 would come out to be: 39.618 X 1000 = $39,631.8 which rounds out to $39,632

Thus correct option is (d) $39,632

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