Economics: Does Money Buy Happiness? Several surveys in the United States and Europe have asked people to rate their happiness on a scale of 3 = “very happy,” 2 = “fairly happy,” and 1 = “not too happy,” and then tried to correlate the answer with the person’s income. For those in one income group (making $25,000 to $55,000) it was found that their “happiness” was approximately given by y = 0.065x- 0.613. Find the reported “happiness” of a personwith the following incomes (rounding your answers to one decimal place).
a. $25,000 b. $35,000 c. $45,000
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