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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 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. = 352.0 – 2.9x 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 $1 million. exact number, no tolerance 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? O 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? nonexact exact

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. = 352.0 – 2.9x 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 $1 million. exact number, no tolerance 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? O 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? nonexact exact

Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
4th Edition
ISBN:9781285463247
Author:David Poole
Publisher:David Poole
Chapter7: Distance And Approximation
Section7.3: Least Squares Approximation
Problem 31EQ
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Chapter 13, Section 13.1, Problem 019 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. ý = 352.0 – 2.9x 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 $ million. exact number, no tolerance 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? O Yes, the average profits will be the same for each of these three years. O 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? nonexact exact 24 tv A hulu
Transcribed Image Text:Chapter 13, Section 13.1, Problem 019 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. ý = 352.0 – 2.9x 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 $ million. exact number, no tolerance 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? O Yes, the average profits will be the same for each of these three years. O 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? nonexact exact 24 tv A hulu
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