Based on the scatter plot above, describe the relationship between the amount of cost damage and the distance from nearest fire station to the residential. Determine the regression line for the above regression output. Interpret the slope coefficient of distance to the nearest station affecting the amount of fire cost damage.
Based on the scatter plot above, describe the relationship between the amount of cost damage and the distance from nearest fire station to the residential. Determine the regression line for the above regression output. Interpret the slope coefficient of distance to the nearest station affecting the amount of fire cost damage.
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
Question
- Based on the
scatter plot above, describe the relationship between the amount of cost damage and the distance from nearest fire station to the residential.
- Determine the regression line for the above regression output.
- Interpret the slope coefficient of distance to the nearest station affecting the amount of fire cost damage.
- Compute the
correlation coefficient and interpret its meaning.
- Does the distance to the nearest fire station has significant influence on the cost damage amount? Conduct a test at 1% significance level. ]
- Predict the fire cost damage generated if the distance from nearest fire station is 2.5 kilometers. Is this estimate reliable? Explain. []
Transcribed Image Text:(a) A fire safety inspector wants to investigate the amount of fire cost damage in major
residential affected by the distance (in km) from nearest fire station. A sample of 8
recent fires is selected and the safety inspector developed a scatter plot and summary
regression output concerning the amount of fire damage (in $). The scatterplot, output
and data are released as below:
Distance from Fire
Cost Damage (RM)
Station (kilometers)
3.4
26200
1.8
17800
4.6
31300
2.3
23100
3.1
27500
5.5
36000
0.7
14100
3.5
22300
40000
35000
30000
25000
20000 -
15000
10000
5000 -
2
3
Distance from Fire Station (kilometers)
SUMMARY OUTPUT
Regression Statistics
Multiple R
R Square
Adjusted R Square
0.9119
0.8972
Standard Error
2265.4476
Observations
8
Cost Damage (RM)
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