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España The finance department of an automobile insurance company uses a multiple regression model to estimate the total number of accident claims that will be filed each month. Based on the most recent 26 months of claims data, the company has selected 3 independent variables that it believes are related to accident claims. Let B,, B, and B, denote the coefficients of the 3 variables in this model. When this data is entered into a regression software program, the error sum of squares (SSE) associated with the model is reported to be 23.38 and the corresponding regression sum of squares (SSR) is 4.02. Using a significance level of 0.05, can you conclude that at least one of the independent variables in the model provides useful (i.e., statistically significant) information for predicting monthly accident claims? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (a) State the null hypothesis H, for the test. Note that the alternative hypothesis H, is given. H, :0 H, : at least one of the independent variables is useful (b) Determine the type of test statistic to use. Degrees of freedom: dfn: dfd: O=0 OSO (c) Find the value of the test statistic. (Round to two or more decimal places.) (d) Find the critical value at the 0.05 significance. (Round to two more decimal places.) (e) Can you conclude that at least one of the independent variables in the model provides useful information for predicting monthly accident claims? O Yes O No

España The finance department of an automobile insurance company uses a multiple regression model to estimate the total number of accident claims that will be filed each month. Based on the most recent 26 months of claims data, the company has selected 3 independent variables that it believes are related to accident claims. Let B,, B, and B, denote the coefficients of the 3 variables in this model. When this data is entered into a regression software program, the error sum of squares (SSE) associated with the model is reported to be 23.38 and the corresponding regression sum of squares (SSR) is 4.02. Using a significance level of 0.05, can you conclude that at least one of the independent variables in the model provides useful (i.e., statistically significant) information for predicting monthly accident claims? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (a) State the null hypothesis H, for the test. Note that the alternative hypothesis H, is given. H, :0 H, : at least one of the independent variables is useful (b) Determine the type of test statistic to use. Degrees of freedom: dfn: dfd: O=0 OSO (c) Find the value of the test statistic. (Round to two or more decimal places.) (d) Find the critical value at the 0.05 significance. (Round to two more decimal places.) (e) Can you conclude that at least one of the independent variables in the model provides useful information for predicting monthly accident claims? O Yes O No

College Algebra
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter1: Equations And Graphs
Section: Chapter Questions
Problem 10T: Olympic Pole Vault The graph in Figure 7 indicates that in recent years the winning Olympic men’s...
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F test of a multiple regression model Español The finance department of an automobile insurance company uses a multiple regression model to estimate the total number of accident claims that will be filed each month. Based on the most recent 26 months of claims data, the company has selected 3 independent variables that it believes are related to accident claims. Let B,, By, and Bz denote the coefficients of the 3 variables in this model. When this data is entered into a regression software program, the error sum of squares (SSE) associated with the model is reported to be 23.38 and the corresponding regression sum of squares (SSR) is 4.02. Using a significance level of 0.05, can you conclude that at least one of the independent variables in the model provides useful (i.e., statistically significant) information for predicting monthly accident claims? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (a) State the null hypothesis H, for the test. Note that the alternative hypothesis H, is given. H, :0 H, : at least one of the independent variables is useful (b) Determine the type of test statistic to use. Degrees of freedom: dfn: dfd: O=0 OSO (c) Find the value of the test statistic. (Round to two or more decimal places.) ロロ O<O (d) Find the critical value at the 0.05 level of significance. (Round to two or more decimal places.) (e) Can you conclude that at least one of the independent variables in the model provides useful information for predicting monthly accident claims? O Yes O No Ix
Transcribed Image Text:F test of a multiple regression model Español The finance department of an automobile insurance company uses a multiple regression model to estimate the total number of accident claims that will be filed each month. Based on the most recent 26 months of claims data, the company has selected 3 independent variables that it believes are related to accident claims. Let B,, By, and Bz denote the coefficients of the 3 variables in this model. When this data is entered into a regression software program, the error sum of squares (SSE) associated with the model is reported to be 23.38 and the corresponding regression sum of squares (SSR) is 4.02. Using a significance level of 0.05, can you conclude that at least one of the independent variables in the model provides useful (i.e., statistically significant) information for predicting monthly accident claims? Perform a one-tailed test. Then complete the parts below. Carry your intermediate computations to three or more decimal places. (a) State the null hypothesis H, for the test. Note that the alternative hypothesis H, is given. H, :0 H, : at least one of the independent variables is useful (b) Determine the type of test statistic to use. Degrees of freedom: dfn: dfd: O=0 OSO (c) Find the value of the test statistic. (Round to two or more decimal places.) ロロ O<O (d) Find the critical value at the 0.05 level of significance. (Round to two or more decimal places.) (e) Can you conclude that at least one of the independent variables in the model provides useful information for predicting monthly accident claims? O Yes O No Ix
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