Waterbury Insurance Company wonts to study the relationship between the omount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For o somple of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire domage, in thousands of dollars (y). ANOVA table Source Regression Residual Total SS df MS 1,870.5782 1, 265.4934 3,136.0716 1,870.5782 45.1962 41.39 28 29 Regression output Standard Variables Intercept Distance-X Coefficients Error t(df-28) 13.76815 3.106 2.914 3.778s e. 5861 6.43 E Click here for the Excel Dato File a-1. Determine the regression equation. (Round your answers to 3 decimal places.) a-2 Is there a direct or indirect relationship between the distance from the fire stotion and the omount of fire damage? The relationship between distance and damage is b. How much damage would you estimate for a fire 4 miles from the nearest fire station? (Round your answer to the nearest dollar amount.)
Waterbury Insurance Company wonts to study the relationship between the omount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For o somple of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire domage, in thousands of dollars (y). ANOVA table Source Regression Residual Total SS df MS 1,870.5782 1, 265.4934 3,136.0716 1,870.5782 45.1962 41.39 28 29 Regression output Standard Variables Intercept Distance-X Coefficients Error t(df-28) 13.76815 3.106 2.914 3.778s e. 5861 6.43 E Click here for the Excel Dato File a-1. Determine the regression equation. (Round your answers to 3 decimal places.) a-2 Is there a direct or indirect relationship between the distance from the fire stotion and the omount of fire damage? The relationship between distance and damage is b. How much damage would you estimate for a fire 4 miles from the nearest fire station? (Round your answer to the nearest dollar amount.)
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
Transcribed Image Text:c-2 Interpret the coefficient of determinotion. (Round your answer to one decimal place.)
% af the variation in damage is explained by varialion in distance
d-1. Determine the correlotion coefficient. (Round your answer to 3 decimal places.)
Correlation coofficient
d-2 Evoluate the correlotion between the variables
There is a
asociation belween the variables.
d-3. How did you determine the sign of the correlotion coefficient?
Il is
because the slope is
Transcribed Image Text:Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the
burning house and the neorest fire station. This information will be used in setting rates for insurance coverage. For o somple of 30
claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire
domage, in thousands of dollars (y).
ANOVA table
Source
Regression
Residual
SS
df
MS
F
1,870.5782
1,870.5782
41.39
1,265.4934
3,136.0716
28
45.1962
Total
29
Regression output
Standard
Variables
Coefficients
Error
t(df-28)
Intercept
Distance-X
13.76815
3.106
2.914
3.77es
e. 5861
6.43
Click here for the Excel Data File
a-1. Determine the regression equation. (Round your answers to 3 decimal places.)
y3D
X.
a-2 Is there a direct or indirect relotionship between the distance from the fire station and the amount of fire damage?
The relationship between distance and damage is
b. How much domage would you estimate for a fire 4 miles from the nearest fire station? (Round your answer to the nearest dollar
amount.)
Estimated damage
C-1. Determine the coefficient of determination. (Round your answer to 3 decimal places.)
Coefficient of determination
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