1. A random sample of eight drivers insured with a company and having similar auto insurance policies was selected. The following table lists their driving experiences (in years) and monthly auto insurance premiums. Driving Experience (X) : 5 2 12 15 6 25 16 Monthly Auto(Y) : 64 87 50 71 44 56 42 60 Insurance Premium a. Find the least squares regression line. b. Compute the standard deviation of errors.

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1. A random sample of eight drivers insured with a company and having similar
auto insurance policies was selected. The following table lists their driving
experiences (in years) and monthly auto insurance premiums.
Driving
Experience (X) :
5 2
12
15
25
16
Monthly Auto(Y) : 64
87
50
71
44
56
42
60
Insurance Premium
а.
Find the least squares regression line.
b.
Compute the standard deviation of errors.
Test at 10% significance level whether B1 is negative.
Using a = .05, test whether p is negative.
c.
d.
Transcribed Image Text:1. A random sample of eight drivers insured with a company and having similar auto insurance policies was selected. The following table lists their driving experiences (in years) and monthly auto insurance premiums. Driving Experience (X) : 5 2 12 15 25 16 Monthly Auto(Y) : 64 87 50 71 44 56 42 60 Insurance Premium а. Find the least squares regression line. b. Compute the standard deviation of errors. Test at 10% significance level whether B1 is negative. Using a = .05, test whether p is negative. c. d.
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