SCENARIO 13-10
You Worked as an Intern at We Always

question 98

Short Answer

SCENARIO 13-10
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 and the number of traffic tickets received by the individual.You performed a regression analysis in EXCEL and obtained the following partial information: $$\begin{array}{l}\begin{array} { l r } \hline { \text { Regression Statistics } } \\\hline \text { Multiple R } & 0.8546 \\\text { R Square } & 0.7303 \\\text { Adjusted R Square } & 0.6853 \\\text { Standard Error } & 226.7502 \\\text { Observations } & 15 \\\hline\end{array}\\\\\text { ANOVA }\\\begin{array}{lrrrrrr} & d f & & \text { SS } & \text { MS } & \text { F } & \text { Significance } F \\\hline \text { Regression } & & 2 & & \text { 835284.6500 } & 16.2457 & 0.0004 \\\text { Residual } & & 12 & 616987.8200 & & & \\\text { Total } & & & 2287557.1200 & & & \\\hline\end{array}\\\\\begin{array} { l r r r r r r } \hline & \text { Coefficients } & \text { Standard Error } & { t \text { Stat } } & \text { P-value } & \text { Lower 99\% } & { \text { Upper 99\% } } \\\hline \text { Intercept } & 821.2617 & 161.9391 & 5.0714 & 0.0003 & 326.6124 & 1315.9111 \\\text { Age } & - 1.4061 & 2.5988 & - 0.5411 & 0.5984 & - 9.3444 & 6.5321 \\\text { Tickets } & 243.4401 & 43.2470 & 5.6291 & 0.0001 & 111.3406 & 375.5396 \\\hline\end{array}\end{array}$$
-Referring to SCENARIO 13-10, the standard error of the estimate is .

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Definitions:

Evolutionary Forces

Factors that influence the genetic composition of a population through natural selection, gene flow, mutation, and genetic drift.

Infants

Very young children or babies, especially those from birth up to one year old.

Warmth, Love

Feelings of affection, kindness, and care towards others, often characterized by positive emotional connections.

Protection

Measures or actions taken to guard against harm, damage, loss, or unwanted outcomes.