The following is a table showing the price of car insurance based on how much driving experience that an insurance holder has. Use the years of driving experience as your explanatory (independent) variable and the monthly insurance premium as your response (dependent) variable. Years of driving experience012345678Cost of monthly insurance premium676362595042393432a) What is the least squares regression line for this bivariate dataset? (write in y=mx+b form)b) What is the correlation coefficient? c) Find the residual cost of someone with 5 years of driving experience (difference between predicted and observed values)d) Interpret the y-intercept and slope of the regression line in context of the problem.

Name: The following is a table showing the price of car insurance based on h
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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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The following is a table showing the price of car insurance based on how much driving experience that an insurance holder has. Use the years of driving experience as your explanatory (independent) variable and the monthly insurance premium as your response (dependent) variable.