Consider the following computer output from a multiple regression analysis relating the cost of car insurance to the variables: number of car accidents, driver's credit score, and safety rating of the car. Intercept Car Accidents (In last 3 years) Credit Score Safety Rating Coefficients 864 155.52 Coefficients -95.04 -173.29 Standard Error 88.23 16.57 10.45 16.24 t Stat 9.793 9.386 - 9.095 - 10.671 P-value 0.0000 0.0000 0.0000 0.0000
Consider the following computer output from a multiple regression analysis relating the cost of car insurance to the variables: number of car accidents, driver's credit score, and safety rating of the car. Intercept Car Accidents (In last 3 years) Credit Score Safety Rating Coefficients 864 155.52 Coefficients -95.04 -173.29 Standard Error 88.23 16.57 10.45 16.24 t Stat 9.793 9.386 - 9.095 - 10.671 P-value 0.0000 0.0000 0.0000 0.0000
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Transcribed Image Text:Consider the following computer output from a multiple regression analysis relating the cost of car insurance to the variables: number of car accidents, driver's credit
score, and safety rating of the car.
Answer
Ⓒ2022 Hawkes Learning
Intercept
Car Accidents
(In last 3 years)
Credit Score
Safety Rating
#
Does the sign of the coefficient for the variable credit score make sense?
$
Coefficients
864
155.52
%
-95.04
- 173.29
Coefficients
Standard Error
88.23
16.57
10.45
16.24
MacBook Pro
t Stat
9.793
&
9.386
Yes, because it is expected that as the credit score increases then the cost should decrease.
Yes, because it is expected that as the credit score increases then the cost should also increase.
O No, because it is expected that as the credit score increases then the cost should also increase.
O No, because it is expected that as the credit score increases then the cost should decrease.
P-value
0.0000
0.0000
-9.095
0.0000
- 10.671 0.0000
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