Allstate wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This will be used to set rates for insurance coverage. For a sample of 30 claims for the last year, the Operations Director determined the distance from the fire station (x) and the amount of fire damage in thousands of dollars (y). The MegaStat output is below; ANOVA Table Source SS df MS F Regression 1865.5782 1 1865.5782 39.71 Residual 1315.4934 28 46.9819 Total 3181.0716 29 Regression Output Variables Coefficients Std. Error t(df=28) Intercept 12.5538 3.0301 3.678 Distance-X 3.4664 0.5501 6.3 What % of the variation in damage is explained by the variation in distance? (round to 1 decimal place) Determine the correlation coefficient (round to 3 decimal places) Compute the value of the test statistic (round to 2 decimal places)
Allstate wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This will be used to set rates for insurance coverage. For a sample of 30 claims for the last year, the Operations Director determined the distance from the fire station (x) and the amount of fire damage in thousands of dollars (y). The MegaStat output is below; ANOVA Table Source SS df MS F Regression 1865.5782 1 1865.5782 39.71 Residual 1315.4934 28 46.9819 Total 3181.0716 29 Regression Output Variables Coefficients Std. Error t(df=28) Intercept 12.5538 3.0301 3.678 Distance-X 3.4664 0.5501 6.3 What % of the variation in damage is explained by the variation in distance? (round to 1 decimal place) Determine the correlation coefficient (round to 3 decimal places) Compute the value of the test statistic (round to 2 decimal places)
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter4: Equations Of Linear Functions
Section4.5: Correlation And Causation
Problem 2AGP
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Allstate wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This will be used to set rates for insurance coverage.
For a sample of 30 claims for the last year, the Operations Director determined the distance from the fire station (x) and the amount of fire damage in thousands of dollars (y). The MegaStat output is below;
ANOVA Table
Source | SS | df | MS | F |
Regression | 1865.5782 | 1 | 1865.5782 | 39.71 |
Residual | 1315.4934 | 28 | 46.9819 | |
Total | 3181.0716 | 29 |
Regression Output
Variables | Coefficients | Std. Error | t(df=28) |
Intercept | 12.5538 | 3.0301 | 3.678 |
Distance-X | 3.4664 | 0.5501 | 6.3 |
- What % of the variation in damage is explained by the variation in distance? (round to 1 decimal place)
- Determine the
correlation coefficient (round to 3 decimal places) - Compute the value of the test statistic (round to 2 decimal places)
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