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Waterbury Insurance Company wonts to study the relationship between the omount 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 o somple 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 domage, in thousands of dollars (y). ANOVA table Source Regression Residual Total SS df MS 1,870.5782 1, 265.4934 3,136.0716 1,870.5782 45.1962 41.39 28 29 Regression output Standard Variables Intercept Distance-X Coefficients Error t(df-28) 13.76815 3.106 2.914 3.778s e. 5861 6.43 E Click here for the Excel Dato File a-1. Determine the regression equation. (Round your answers to 3 decimal places.) a-2 Is there a direct or indirect relationship between the distance from the fire stotion and the omount of fire damage? The relationship between distance and damage is 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.)

Waterbury Insurance Company wonts to study the relationship between the omount 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 o somple 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 domage, in thousands of dollars (y). ANOVA table Source Regression Residual Total SS df MS 1,870.5782 1, 265.4934 3,136.0716 1,870.5782 45.1962 41.39 28 29 Regression output Standard Variables Intercept Distance-X Coefficients Error t(df-28) 13.76815 3.106 2.914 3.778s e. 5861 6.43 E Click here for the Excel Dato File a-1. Determine the regression equation. (Round your answers to 3 decimal places.) a-2 Is there a direct or indirect relationship between the distance from the fire stotion and the omount of fire damage? The relationship between distance and damage is 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.)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 31PPS
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c-2 Interpret the coefficient of determinotion. (Round your answer to one decimal place.) % af the variation in damage is explained by varialion in distance d-1. Determine the correlotion coefficient. (Round your answer to 3 decimal places.) Correlation coofficient d-2 Evoluate the correlotion between the variables There is a asociation belween the variables. d-3. How did you determine the sign of the correlotion coefficient? Il is because the slope is
Transcribed Image Text:c-2 Interpret the coefficient of determinotion. (Round your answer to one decimal place.) % af the variation in damage is explained by varialion in distance d-1. Determine the correlotion coefficient. (Round your answer to 3 decimal places.) Correlation coofficient d-2 Evoluate the correlotion between the variables There is a asociation belween the variables. d-3. How did you determine the sign of the correlotion coefficient? Il is because the slope is
Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the neorest fire station. This information will be used in setting rates for insurance coverage. For o somple 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 domage, in thousands of dollars (y). ANOVA table Source Regression Residual SS df MS F 1,870.5782 1,870.5782 41.39 1,265.4934 3,136.0716 28 45.1962 Total 29 Regression output Standard Variables Coefficients Error t(df-28) Intercept Distance-X 13.76815 3.106 2.914 3.77es e. 5861 6.43 Click here for the Excel Data File a-1. Determine the regression equation. (Round your answers to 3 decimal places.) y3D X. a-2 Is there a direct or indirect relotionship between the distance from the fire station and the amount of fire damage? The relationship between distance and damage is b. How much domage would you estimate for a fire 4 miles from the nearest fire station? (Round your answer to the nearest dollar amount.) Estimated damage C-1. Determine the coefficient of determination. (Round your answer to 3 decimal places.) Coefficient of determination
Transcribed Image Text:Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the neorest fire station. This information will be used in setting rates for insurance coverage. For o somple 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 domage, in thousands of dollars (y). ANOVA table Source Regression Residual SS df MS F 1,870.5782 1,870.5782 41.39 1,265.4934 3,136.0716 28 45.1962 Total 29 Regression output Standard Variables Coefficients Error t(df-28) Intercept Distance-X 13.76815 3.106 2.914 3.77es e. 5861 6.43 Click here for the Excel Data File a-1. Determine the regression equation. (Round your answers to 3 decimal places.) y3D X. a-2 Is there a direct or indirect relotionship between the distance from the fire station and the amount of fire damage? The relationship between distance and damage is b. How much domage would you estimate for a fire 4 miles from the nearest fire station? (Round your answer to the nearest dollar amount.) Estimated damage C-1. Determine the coefficient of determination. (Round your answer to 3 decimal places.) Coefficient of determination
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