A researcher took a sample of 10 years and found the following relationship between x and y, where x is the number of ma

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A Researcher Took A Sample Of 10 Years And Found The Following Relationship Between X And Y Where X Is The Number Of Ma 1 (64.59 KiB) Viewed 67 times

A researcher took a sample of 10 years and found the following relationship between x and y, where x is the number of major natural calamities (such as tornadoes, hurricanes, earthquakes, floods, etc.) that occurred during a year and y represents the average annual total profits (in millions of dollars) of a sample of insurance companies in the United States. ŷ = 347.9 – 1.2x a. A randomly selected year had 24 major calamities. What are the expected average profits of U.S. insurance companies for that year? The expected average profits are $ i million. b. Suppose the number of major calamities was the same for each of 3 years. Do you expect the average profits for all U.S. insurance companies to be the same for each of these 3 years? Yes, the average profits will be the same for each of these three years. No, the given equation provides an estimate of the average profits, not the exact amount. C. Is the relationship between x and y exact or nonexact? O nonexact exact