Insurance premiums and demerit points. (iii) Calculate the coefficient of determination (R²) and interpret its meaning R² Round to 4 decimal places Interpretation: Approximately can be explained by the (click to select) % of the variation in the click to select) SUBMIT QUESTION b. Predict the insurance premium when the demerit points are 11. 1 UPLOAD WORK SAVE PROGRESS SUBM
Insurance premiums and demerit points. (iii) Calculate the coefficient of determination (R²) and interpret its meaning R² Round to 4 decimal places Interpretation: Approximately can be explained by the (click to select) % of the variation in the click to select) SUBMIT QUESTION b. Predict the insurance premium when the demerit points are 11. 1 UPLOAD WORK SAVE PROGRESS SUBM
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
A car insurance broker for high risk drivers compares the total number of demerit points on the license of each driver and their monthly car insurance premium. The data is recorded for sample of 20 different high risk drivers.
Demerit points.
7
7
11
5
10
11
13
10
9
17
8
10
4
19
6
8
5
4
8
17
Monthly Insurance Premium
157
205
346
194
309
596
687
406
236
716
244
510
118
821
275
276
276
269
276
786
Please give the excel formula and or the spreadsheet. Thank you.
Transcribed Image Text:(1) Determe the equation of the line of best fit and interpret the slope.
Y
+
Keep 4 significant digits for the equation values
Interpretation: For every unit increase in the (click to select)
(click to select)
in the (click to select)
(ii) Calculate and interpret the coefficient of correlation (r).
__
Round to 4 decimal places
Interpretation: There is (click to select)
UPLOAD WORK
←
V
(click to select)
V
V
there is a
correlation between
SUBMIT QUESTION
unit
SAVE PROGRESS
Transcribed Image Text:Insurance premiums and demerit points.
(iii) Calculate the coefficient of determination (R²) and interpret its meaning
R²
Round to 4 decimal places
Interpretation: Approximately
can be explained by the (click to select)
% of the variation in the (click to select)
SUBMIT QUESTION
b. Predict the insurance premium when the demerit points are 11.
1 UPLOAD WORK
SAVE PROGRESS
SUBN
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