The R² for the estimated regression is 1-1 150 Σ (P,-P)² = 130.67. 2 i=1 (Round your answer to two decimal places.) The health insurance company realizes that it has not included another determinant, the ailments that the customers suffer from, which also affects the premium charged by the company. To include this determinant, the company uses data on customers' expenditure on medicines (E;). The estimated regression function is: P = 2.48 +0.76A; + 0.68D; + 0.65E;. After including the data on expenditure on medicines, the company makes the following calculations. 150 Σ (P - Pi) 2 = 28.75. The R² for this estimated regression is i=1 150 Σ (P; -P)² = 130.67. i=1 (Round your answer to two decimal places.) What is the effect on R² and SSR if the coefficient of the added regressor is exactly 0? ○ A. B. C. D. If the coefficient of the added regressor is exactly 0, both the R² and SSR increase. If the coefficient of the added regressor is exactly 0, the R² and SSR both do not change. If the coefficient of the added regressor is exactly 0, the R² increases and the SSR decreases. If the coefficient of the added regressor is exactly 0, the R² decreases and the SSR increases. Health insurance companies are generally faced with the problem of how much premium to charge the customers. Generally, the premium charged by the company (P;) is decided on the basis of the age of the person (A;), and the duration for which the insurance is taken (D;). A health insurance company collects random data on 150 customers. The estimated regression function is: The insurance company makes the following calculations. ¡ = 2.5 + 0.80A; + 0.75D;. 150 Σ (-) = i=1 150 = 70.98. The R² for the estimated regression is ☐ Σ (P-P)² = 130.67. i=1 (Round your answer to two decimal places.) The health insurance company realizes that it has not included another determinant, the ailments that the customers suffer from, which also affects the premium charged by the company. To include this determinant, the company uses data on customers' expenditure on medicines (E;). The estimated regression function is: P; = 2.48 +0.76A; +0.68D; + 0.65E;. After including the data on expenditure on medicines, the company makes the following calculations. 150 Σ(P;-)² = 28.75. 2 The R² for this estimated regression is (Round your answer to two decimal places.) 2 i=1 150 Σ (P; -P)² = 130.67. i=1

Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
icon
Related questions
Question

please also answer these questions correctly for all

The R² for the estimated regression is
1-1
150
Σ (P,-P)² = 130.67.
2
i=1
(Round your answer to two decimal places.)
The health insurance company realizes that it has not included another determinant, the ailments that the customers suffer from, which also affects the premium charged by the company. To include
this determinant, the company uses data on customers' expenditure on medicines (E;). The estimated regression function is:
P = 2.48 +0.76A; + 0.68D; + 0.65E;.
After including the data on expenditure on medicines, the company makes the following calculations.
150
Σ (P - Pi) 2
= 28.75.
The R² for this estimated regression is
i=1
150
Σ (P; -P)² = 130.67.
i=1
(Round your answer to two decimal places.)
What is the effect on R² and SSR if the coefficient of the added regressor is exactly 0?
○ A.
B.
C.
D.
If the coefficient of the added regressor is exactly 0, both the R² and SSR increase.
If the coefficient of the added regressor is exactly 0, the R² and SSR both do not change.
If the coefficient of the added regressor is exactly 0, the R² increases and the SSR decreases.
If the coefficient of the added regressor is exactly 0, the R² decreases and the SSR increases.
Transcribed Image Text:The R² for the estimated regression is 1-1 150 Σ (P,-P)² = 130.67. 2 i=1 (Round your answer to two decimal places.) The health insurance company realizes that it has not included another determinant, the ailments that the customers suffer from, which also affects the premium charged by the company. To include this determinant, the company uses data on customers' expenditure on medicines (E;). The estimated regression function is: P = 2.48 +0.76A; + 0.68D; + 0.65E;. After including the data on expenditure on medicines, the company makes the following calculations. 150 Σ (P - Pi) 2 = 28.75. The R² for this estimated regression is i=1 150 Σ (P; -P)² = 130.67. i=1 (Round your answer to two decimal places.) What is the effect on R² and SSR if the coefficient of the added regressor is exactly 0? ○ A. B. C. D. If the coefficient of the added regressor is exactly 0, both the R² and SSR increase. If the coefficient of the added regressor is exactly 0, the R² and SSR both do not change. If the coefficient of the added regressor is exactly 0, the R² increases and the SSR decreases. If the coefficient of the added regressor is exactly 0, the R² decreases and the SSR increases.
Health insurance companies are generally faced with the problem of how much premium to charge the customers. Generally, the premium charged by the company (P;) is decided on the basis of
the age of the person (A;), and the duration for which the insurance is taken (D;). A health insurance company collects random data on 150 customers. The estimated regression function is:
The insurance company makes the following calculations.
¡ = 2.5 + 0.80A; + 0.75D;.
150
Σ (-) =
i=1
150
= 70.98.
The R² for the estimated regression is ☐
Σ (P-P)² = 130.67.
i=1
(Round your answer to two decimal places.)
The health insurance company realizes that it has not included another determinant, the ailments that the customers suffer from, which also affects the premium charged by the company. To include
this determinant, the company uses data on customers' expenditure on medicines (E;). The estimated regression function is:
P; = 2.48 +0.76A; +0.68D; + 0.65E;.
After including the data on expenditure on medicines, the company makes the following calculations.
150
Σ(P;-)² = 28.75.
2
The R² for this estimated regression is
(Round your answer to two decimal places.)
2
i=1
150
Σ (P; -P)² = 130.67.
i=1
Transcribed Image Text:Health insurance companies are generally faced with the problem of how much premium to charge the customers. Generally, the premium charged by the company (P;) is decided on the basis of the age of the person (A;), and the duration for which the insurance is taken (D;). A health insurance company collects random data on 150 customers. The estimated regression function is: The insurance company makes the following calculations. ¡ = 2.5 + 0.80A; + 0.75D;. 150 Σ (-) = i=1 150 = 70.98. The R² for the estimated regression is ☐ Σ (P-P)² = 130.67. i=1 (Round your answer to two decimal places.) The health insurance company realizes that it has not included another determinant, the ailments that the customers suffer from, which also affects the premium charged by the company. To include this determinant, the company uses data on customers' expenditure on medicines (E;). The estimated regression function is: P; = 2.48 +0.76A; +0.68D; + 0.65E;. After including the data on expenditure on medicines, the company makes the following calculations. 150 Σ(P;-)² = 28.75. 2 The R² for this estimated regression is (Round your answer to two decimal places.) 2 i=1 150 Σ (P; -P)² = 130.67. i=1
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,