TABLE 14-10
You Worked as an Intern at We

question 176

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:
Regression Analysis
$\begin{array}{lr}\hline\text {Regression Statistics } \\\hline\text { Multiple R} & 0.63 \\\text {R Square }& 0.40 \\\text {Adjusted R Square} & 0.23 \\\text {Standard Error }& 50.00 \\\text {Observations} & 15.00 \\\hline\end{array}$

ANOVA
$\begin{array}{lccccc}\hline & \text { d f} & \text {SS} & \text {MS} & \text {F } & \text {Significance F } \\\hline \text {Regression} & 3 & & 5994.24 & 2.40 & 0.12 \\\text {Residual }& 11 & 27496.82 & & & \\\text {Total }& 45479.54 & & & \\\hline\end{array}$

$\begin{array}{lccrrrr}\hline & \text {oefficients}&\text { Standard Error }& \text { t Stat} &\text { p-value }& \text {Lower 99.0\% }& \text {Upper 99.0 \% } \\\hline\text { Intercept} & 123.80 & 48.71 & 2.54 & 0.03 & -27.47 & 275.07 \\\text {AGE }& -0.82 & 0.87 & -0.95 & 0.36 & -3.51 & 1.87 \\\text {TICKETS}& 21.25 & 10.66 & 1.99 & 0.07 & -11.86 & 54.37 \\\text {DENSITY} & -3.14 & 6.46 & -0.49 & 0.64 & -23.19 & 16.91 \\\hline\end{array}$

-Referring to Table 14-10, the adjusted r² is ____ .

Distinguish between different types of climate interactions, including the impact of solar radiation and plate tectonics on climate.

Understand the effects of climate change on weather patterns, including hurricanes and tornadoes.

Recognize and explain the role of plate tectonics in shaping the Earth’s climate, including the impact on ocean currents and mountain formation.

Apply knowledge of climate and weather patterns to predict potential damage from natural disasters.

---

Definitions:

Retail Buyers

These are professionals responsible for selecting and purchasing merchandise for retail sale, considering factors like trends, customer demand, and price.

Sales Presentation

A pitch or demonstration given by a salesperson to persuade potential buyers on the value and benefits of a product or service.

Objections

Expressions of concern or reasons for hesitance provided by potential customers during the sales process.

Deny Objections

A sales tactic where the salesperson refutes or challenges a customer's concerns or hesitations.