Problem
a) Using the Excel dataset found on the course website, perform a linear regression analysis to obtain an equation to predict age at death given a specific cholesterol level. Predict the age at which Adam will die given his cholesterol level is 310 mg/dL. Interpret the slope in the context of this problem. Interpret the coefficient of determination.
b) Suppose it costs $2,000 to buy a defibrillator. Find the expected value of owning a defibrillator if there is a 4% probability that Sprint to Life will lose a lawsuit regarding its operation, with each lawsuit resulting in Sprint to Life being liable in the amount of $750,000.