TABLE 14-10 You Worked as an Intern at We Always Win Car

question 302

Short Answer

TABLE 14-10
You worked as an intern at We Always Win Car Insurance Company last summer. You notice that individual car insurance premiums depend very much on the age of the individual, the number of traffic tickets received by the individual, and the population density of the city in which the individual lives. You performed a regression analysis in Excel and obtained the following information:

-Referring to Table 14-10, to test the significance of the multiple regression model, the p-value of the test statistic in the sample is ________.

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Definitions:

Degrees Of Freedom

Degrees of freedom represent the number of independent values or quantities which can freely vary in an analysis without violating any constraints imposed on them.

Pooled Variance

A method used to estimate the variance of two or more populations when the mean of each population may differ but the true variance is assumed to be the same.

Standard Error

The typical deviation found within the distribution of samples for a statistic, usually referring to the mean.

Independent Samples

Independent samples refer to two or more groups of data that are collected from separate, non-overlapping populations, ensuring they are not influenced by each other.