Q2. A random sample of seven drivers insured with a company and having similar auto insurance policies was selected. The following table lists their number of driving violations (in past two years) and monthly auto insurance premiums. 3 Number of Driving Violations Monthly Insurance Premium ($) 4 2 6 25 70 20 35 27 55 (a) Draw a scatter diagram for the above data. (b) Find the estimated least squares regression line. (c) Interpret the estimated slope and intercept values.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question

i NEED THIS SOLUTION URGENT. PLZ SOLVE IT

Q2. A random sample of seven drivers insured with a company and having similar auto insurance
policies was selected. The following table lists their number of driving violations (in past two
years) and monthly auto insurance premiums.
Number of Driving Violations
Monthly Insurance Premium ($) 45
4
1
3
2
5
25
70
20
35
27
55
(a) Draw a scatter diagram for the above data.
(b) Find the estimated least squares regression line.
(c) Interpret the estimated slope and intercept values.
(d) Calculate the coefficient of correlation and comment on the value.
(e) Calculate the coefficient of determination (r³) and interpret the result.
(f) Testing at the 5% significance level with six necessary steps, can you conclude that the
regression coefficient is positive?
Transcribed Image Text:Q2. A random sample of seven drivers insured with a company and having similar auto insurance policies was selected. The following table lists their number of driving violations (in past two years) and monthly auto insurance premiums. Number of Driving Violations Monthly Insurance Premium ($) 45 4 1 3 2 5 25 70 20 35 27 55 (a) Draw a scatter diagram for the above data. (b) Find the estimated least squares regression line. (c) Interpret the estimated slope and intercept values. (d) Calculate the coefficient of correlation and comment on the value. (e) Calculate the coefficient of determination (r³) and interpret the result. (f) Testing at the 5% significance level with six necessary steps, can you conclude that the regression coefficient is positive?
Expert Solution
steps

Step by step

Solved in 4 steps with 7 images

Blurred answer
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman