[26-27] An insurance agent has selected a sample of drivers that she insures whose ages are in the range from 16 to 42 years. For each driver, she records the age of the driver (x) and the dollar amount of claims (y) that the driver filled in the previous 12 months. A scatterplot showing the dollar amount of claims as the response and the age as the predictor shows a linear trend. The least squares regression line is determined to be: y = 3715-75.4x. A plot of the residuals versus age of the drivers showed no pattern, and the following were reported: r² = 0.822 and the standard deviation of the residual is 312.1. 26. Which of the following is correct? (a) If the age of a driver increases from 20 to 21, the dollar amount of claims is expected to decrease by $75.4 on average. (b) If the age of a driver increases by one year, the dollar amount of claims is predicted to increase by $3715. (c) One can use the least squares regression line to obtain a reliable prediction of the dollar amount of claims for a driver whose age is 55 years. (d) The dollar amount of claims for a driver of 10 years old is expected to be $2961. Which of the following is false? (a) 82.2% of the variation in the dollar amounts of claims is explained by the age of the driver. The correlation coefficient, r, between the response and the predictor is 0.907. (b) (c) If there are 38 drivers included in this model, then SSE=3506631 (SSE: sum of squared residuals). (d) If the unit of y changes from dollar to thousand dollars, r² remains unchanged. for the $1.000) and advertising (in $1,000) resulted in the following 27.
[26-27] An insurance agent has selected a sample of drivers that she insures whose ages are in the range from 16 to 42 years. For each driver, she records the age of the driver (x) and the dollar amount of claims (y) that the driver filled in the previous 12 months. A scatterplot showing the dollar amount of claims as the response and the age as the predictor shows a linear trend. The least squares regression line is determined to be: y = 3715-75.4x. A plot of the residuals versus age of the drivers showed no pattern, and the following were reported: r² = 0.822 and the standard deviation of the residual is 312.1. 26. Which of the following is correct? (a) If the age of a driver increases from 20 to 21, the dollar amount of claims is expected to decrease by $75.4 on average. (b) If the age of a driver increases by one year, the dollar amount of claims is predicted to increase by $3715. (c) One can use the least squares regression line to obtain a reliable prediction of the dollar amount of claims for a driver whose age is 55 years. (d) The dollar amount of claims for a driver of 10 years old is expected to be $2961. Which of the following is false? (a) 82.2% of the variation in the dollar amounts of claims is explained by the age of the driver. The correlation coefficient, r, between the response and the predictor is 0.907. (b) (c) If there are 38 drivers included in this model, then SSE=3506631 (SSE: sum of squared residuals). (d) If the unit of y changes from dollar to thousand dollars, r² remains unchanged. for the $1.000) and advertising (in $1,000) resulted in the following 27.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
Related questions
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for qs 27 option b, how do we get the value of SSE in this case ?
![[26-27] An insurance agent has selected a sample of drivers that she insures whose ages are in the range
from 16 to 42 years. For each driver, she records the age of the driver (x) and the dollar amount of claims
(y) that the driver filled in the previous 12 months. A scatterplot showing the dollar amount of claims as
the response and the age as the predictor shows a linear trend. The least squares regression line is
determined to be: y = 3715-75.4x. A plot of the residuals versus age of the drivers showed no pattern,
and the following were reported; r² = 0.822 and the standard deviation of the residual is 312.1.
26. Which of the following is correct?
(a)
If the age of a driver increases from 20 to 21, the dollar amount of claims is expected to
decrease by $75.4 on average.
(b)
If the age of a driver increases by one year, the dollar amount of claims is predicted to
increase by $3715.
(c)
One can use the least squares regression line to obtain a reliable prediction of the dollar
amount of claims for a driver whose age is 55 years.
(d)
The dollar amount of claims for a driver of 10 years old is expected to be $2961.
Which of the following is false?
(a)
82.2% of the variation in the dollar amounts of claims is explained by the age of the driver.
The correlation coefficient, r, between the response and the predictor is 0.907.
(b)
(c)
If there are 38 drivers included in this model, then SSE=3506631 (SSE: sum of squared
residuals).
(d)
If the unit of y changes from dollar to thousand dollars, r2 remains unchanged.
Tu fin $1.000) and advertising (in $1,000) resulted in the following
27.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7d8143dc-470e-4045-8f65-25347c65ec1d%2F02884d76-385f-4f47-9df4-184d19071321%2F9anba3p_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[26-27] An insurance agent has selected a sample of drivers that she insures whose ages are in the range
from 16 to 42 years. For each driver, she records the age of the driver (x) and the dollar amount of claims
(y) that the driver filled in the previous 12 months. A scatterplot showing the dollar amount of claims as
the response and the age as the predictor shows a linear trend. The least squares regression line is
determined to be: y = 3715-75.4x. A plot of the residuals versus age of the drivers showed no pattern,
and the following were reported; r² = 0.822 and the standard deviation of the residual is 312.1.
26. Which of the following is correct?
(a)
If the age of a driver increases from 20 to 21, the dollar amount of claims is expected to
decrease by $75.4 on average.
(b)
If the age of a driver increases by one year, the dollar amount of claims is predicted to
increase by $3715.
(c)
One can use the least squares regression line to obtain a reliable prediction of the dollar
amount of claims for a driver whose age is 55 years.
(d)
The dollar amount of claims for a driver of 10 years old is expected to be $2961.
Which of the following is false?
(a)
82.2% of the variation in the dollar amounts of claims is explained by the age of the driver.
The correlation coefficient, r, between the response and the predictor is 0.907.
(b)
(c)
If there are 38 drivers included in this model, then SSE=3506631 (SSE: sum of squared
residuals).
(d)
If the unit of y changes from dollar to thousand dollars, r2 remains unchanged.
Tu fin $1.000) and advertising (in $1,000) resulted in the following
27.
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