Enabled Exam 4 Sum Waterbury Insurance Company Wants To Study The Relationship Between The Amount Of Fire Damage And T 1 (33.82 KiB) Viewed 95 times
Enabled Exam 4 Sum Waterbury Insurance Company Wants To Study The Relationship Between The Amount Of Fire Damage And T 2 (34.5 KiB) Viewed 95 times
Enabled: Exam 4 (Sum 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 (x) and the amount of fire damage, in thousands of dollars (). The MegaStat output is reported below. ANOVA table Source SS Regression; 1,870.5782 Residual Total df MS 1 1,870.5782 41.23 45.3748 1,270.4934 28 3,141.0716 29 Regression output Variables. Coefficients Std. Error Intercept 13,4867 Distance-X 5.2717 3.1191 8.691 Click here for the Excel Data File Estimated damage t(df=28) 2.21 6.43 a-1. Write out the regression equation. (Round your answers to 3 decimal places.) b. How much damage would you estimate for a fire 4 miles from the nearest fire station? (Round your answer to the nearest dollar amount.)
c-1. Determine the coefficient of determination. (Round your answer to 3 decimal places.) Coefficient of determination c-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
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