Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between t

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Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station and the amount of fire damage, in thousands of dollars ( The MegaStat output is reported here: ANOVA table Source Regression Residual Total 55 1,815.5782 1.260.4934 3.16.0716 1 20 29 105 1.415.5782 39.7015 45.7119 Regression output Variables Coefficients Intercept 14.2532 Distance- 3.4332 Std. Error 3.118 to200 3.508 6.3 Click here for the Excel Data File Required: 6-1. Determine the regression equation (Round your answers to 3 decimal places.) .-2. Is there a direct or indirect relationship between the distance from the fire station and the amount of fire damage? The relationship between distance and datage
b. How much damage would you estimate for a fire 5 miles from the nearest fire station? (Round your answer to the nearest dollar amount.) Estimated damage ces c-1. Determine and interpret the coefficient of determination (Round your answer to 3 decimal places.) Coefficient of determination 2. Fill in the blank below. (Round your answer to one decimal place.) of the variation in damage is explained by variation in distance
d-1. Determine the correlation coefficient. (Round your answer to 3 decimal places.) Correlation coefficient d-2. Choose the right option There is a fairly solid link between the variables d-3. How did you determine the sign of the correlation coefficient? because the slopes It is
e-1. State the decision rule for 0.01 significance level: Ho p=0,Hy #0 (Negative value should be indicated by a minus sign Round your answers to 3 decimal places.) Reject Hoit or > e-2. Compute the value of the test statistic (Round your answer to 2 decimal places.) Value of the test statistic e-3. Is there any significant relationship between the distance from the fire station and the amount of damage? Use the 001 significance level He There