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

question 260

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, 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:

Physiological Changes

Alterations in the body's normal biological functions or processes, which can occur due to various factors including stress, illness, or environmental changes.

Experience Of Emotion

A psychological state or process that involves the complex interaction of cognitive evaluations, physiological responses, and behavioral or expressive reactions to a stimulus.

James-Lange Theory

The theory that emotions are the result of the perception of physiological responses to external events.

Emotion

An intricate mental condition characterized by someone's own perception, bodily responses, and manner of behavior or expression.