EBK BUSINESS STATISTICS
7th Edition
ISBN: 9780134462783
Author: STEPHAN
Publisher: PEARSON CUSTOM PUB.(CONSIGNMENT)
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2. Which of the following is not considered a personal risk?
a. Insufficient income during retirement
b. Unemployment
c. Financial risk
d. Premature death
4. A liability insurance policy has a deductible of $100,000, a policy limit of$20,000,000 and co-insurance such that the policyholder pays 20% of theremaining claim. How much does the insurer pay if the loss is:
(i) $50,000(ii) $362,000(iii) $20,065,000(iv) $31,400,000
The Bank of Canada is interested in studying the relationship between mortgage rates and median
home prices. The data is provided below
interest rate (%)
10.30
Year
Median home price
S183,800
$183,200
1988
1989
10.30
1990
10.10
$174,900
1991
9.30
S173,500
$172,900
$173,200
1992
8.40
1993
7.30
1994
8.40
$173,200
S169,700
S174,500
1995
7.90
1996
7.60
1997
7.60
$177,900
$188,100
S203,200
$230,200
$258,200
S309,800
1998
6.90
1999
7.40
2000
8.10
2001
7.00
2002
6.50
2003
5.80
$329,800
2004
5.80
$431,000
2005
2006
2007
$515,000
$537,000
$496,000
5.80
6.40
6.30
2008
6.00
$352,000
$232,000
$291,700
$262,900
2009
5.00
2010
4.70
2011
4.40
2012
2013
3.60
$299,200
4.00
$321,200
$373,500
$358,100
$382,500
$402,900
2014
4.10
2015
3.80
2016
3.60
2017
4.00
a) Estimate a simple linear regression model and find the value of the parameters for the
estimation of mortgage rates and the median home price.
b) Interpret the intercept and the slope coefficients
c) State the correlation coefficient and the…
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- The Bank of Canada is interested in studying the relationship between mortgage rates and median home prices. The data is provided below Year interest rate (%) Median home price S183,800 $183,200 1988 10.30 1989 10.30 1990 10.10 S174,900 1991 9.30 S173,500 1992 8.40 $172,900 1993 7.30 $173,200 1994 8.40 $173,200 S169,700 S174,500 Ineed 1995 7.90 1996 7.60 help with 1997 7.60 $177,900 1998 6.90 $188,100 1999 $203,200 $230,200 7.40 2000 8.10 parts 2001 7.00 $258,200 2002 2003 S309,800 $329,800 6.50 5.80 2004 5.80 $431,000 () $515,000 $537,000 $496,000 2005 5.80 2006 6.40 2007 6.30 2008 6.00 $352,000 2009 5.00 $232,000 2010 $291,700 $262,900 $299,200 4.70 2011 4.40 2012 2013 3.60 4.00 $321,200 $373,500 $358,100 $382,500 $402,900 2014 4.10 2015 2016 3.80 3.60 4.00 2017 a) Estimate a simple linear regression model and find the value of the parameters for the estimation of mortgage rates and the median home price. b) Interpret the intercept and the slope coefficients c) State the correlation…arrow_forwardThe Bank of Canada is interested in studying the relationship between mortgage rates and median home prices. The data is provided below Median home price $183,800 $183,200 $174,900 $173,500 $172,900 $173,200 $173,200 $169,700 $174,500 $177,900 Year interest rate (%) 10.30 1988 1989 10.30 1990 10.10 1991 9.30 1992 8.40 1993 7.30 1994 8.40 1995 7.90 1996 7.60 1997 7.60 $188,100 $203,200 $230,200 $258,200 1998 6.90 1999 7.40 2000 8.10 2001 7.00 $309,800 $329,800 $431.000 2002 6.50 2003 5.80 2004 5.80 $515,000 $537,000 2005 5.80 2006 6.40 2007 6.30 $496,000 $352,000 $232,000 $291.700 $262,900 2008 6.00 2009 5.00 2010 4.70 2011 4.40 $299,200 $321,200 $373,500 $358,100 $382,500 $402,900 2012 3.60 2013 4.00 2014 4.10 2015 3.80 2016 3.60 2017 4.00 a) Estimate a simple linear regression model and find the value of the parameters for the estimation of morteaze rates and the median home price. b) Interpret the intercept and the slope coefficient: c) State the comelation coefficient and the…arrow_forwardThe Bank of Canada is interested in studying the relationship between mortgage rates and median home prices. The data is provided below Median home price $183,800 $183,200 $174,900 $173,500 $172,900 $173,200 $173,200 $169,700 $174,500 $177,900 Year interest rate (%) 10.30 1988 1989 10.30 1990 10.10 1991 9.30 1992 8.40 1993 7.30 1994 8.40 1995 7.90 1996 7.60 1997 7.60 $188,100 $203,200 $230,200 $258,200 1998 6.90 1999 7.40 2000 8.10 2001 7.00 $309,800 $329,800 $431.000 2002 6.50 2003 5.80 2004 5.80 $515,000 $537,000 2005 5.80 2006 6.40 2007 6.30 $496,000 $352,000 $232,000 $291.700 $262,900 2008 6.00 2009 5.00 2010 4.70 2011 4.40 $299,200 $321,200 $373,500 $358,100 $382,500 $402,900 2012 3.60 2013 4.00 2014 4.10 2015 3.80 2016 3.60 2017 4.00 d) Confirm the intercept, slope and correlation coefficient by computing them without SPSS e) At the 5% significance level, determine if the model is useful. In responding, construct and test any appropriate hypothesis.arrow_forward
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