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