Allstate wants to study the relationship between the amount of fire damage between the burning house and the nearest fire station. This will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the Operations Director determined the distance from the fire station (x) and the amount of fire damage in thousands of dollars (y). The MegaStat output is below; ANOVA TableSourceSSdfMSFRegression1865.578211865.578239.71Residual 1315.49342846.9819 Total 3181.071629 Regression Output Variables CoefficientsStd. Error t(df=28)Intercept 12.55383.03013.678Distance-X3.46640.55016.3Write out the regression equation (round to 3 decimal places) How much damage would you estimate for a fire 10 miles from the nearest fire station? (round to nearest dollar amount) Determine and interpret the coefficient of determination (round to 3 decimal places)

Name: Allstate wants to study the relationship between the amount of fire da
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Description: Allstate wants to study the relationship between the amount of fire damage between the burning house and the nearest fire station. This will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the Operations

From the given output, the value of a 12.5538 and value of b is 3.4664.

Answered: Allstate wants to study the…

MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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Allstate wants to study the relationship between the amount of fire damage between the burning house and the nearest fire station. This will be used in setting rates for insurance coverage.

For a sample of 30 claims for the last year, the Operations Director determined the distance from the fire station (x) and the amount of fire damage in thousands of dollars (y). The MegaStat output is below;

ANOVA Table

Source	SS	df	MS	F
Regression	1865.5782	1	1865.5782	39.71
Residual	1315.4934	28	46.9819
Total	3181.0716	29

Regression Output

Variables	Coefficients	Std. Error	t(df=28)
Intercept	12.5538	3.0301	3.678
Distance-X	3.4664	0.5501	6.3

Write out the regression equation (round to 3 decimal places)
How much damage would you estimate for a fire 10 miles from the nearest fire station? (round to nearest dollar amount)
Determine and interpret the coefficient of determination (round to 3 decimal places)

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