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

question 283

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: $$\begin{array}{l}\begin{array} { l r } \hline { \text { Regression Statistics } } \\\hline \text { Multiple R } & 0.8546 \\\text { R Square } & 0.7303 \\\text { Adjusted R Square } & 0.6853 \\\text { Standard Error } & 226.7502 \\\text { Observations } & 15 \\\hline\end{array}\\\text { ANOVA }\\\begin{array} { l r c c c c } & d f & \text { SS } & \text { MS } & \text { F } & \text { Siqnificonce F } \\\hline \text { Regression } & 2 & & 835284.6500 & 16.2457 & 0.0004 \\\text { Residual } & 12 & 616987.8200 & \\\text { Total } && 2287557.1200& & & \\\hline\end{array}\\\\\begin{array} { l r r r r r r } \hline & \text { Coefficients } & \text { Standard Error } & { t \text { Stat } } & \text { P-value } & \text { Lower 99\% } & { \text { Upper 99\% } } \\\hline \text { Intercept } & 821.2617 & 161.9391 & 5.0714 & 0.0003 & 326.6124 & 1315.9111 \\\text { Age } & - 1.4061 & 2.5988 & - 0.5411 & 0.5984 & - 9.3444 & 6.5321 \\\text { Tickets } & 243.4401 & 43.2470 & 5.6291 & 0.0001 & 111.3406 & 375.5396 \\\hline\end{array}\end{array}$$
-Referring to SCENARIO 13-10, to test the significance of the multiple regression model, what is the form of the null hypothesis? a) $H _ { 0 } : \beta _ { 1 } = 0$
b) $H _ { 0 } : \beta _ { 2 } = 0$
c) $H _ { 0 } : \beta _ { 1 } = \beta _ { 2 } = 0$
d) $H _ { 0 } : \beta _ { 0 } = \beta _ { 1 } = \beta _ { 2 } = 0$

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Definitions:

G (Gap)

Refers to phases in the cell cycle where a cell grows and performs normal functions, crucial for the preparation of cell division.

Neoplasm

An accumulation of abnormally dividing cells.

Malignant Neoplasm

A malignant neoplasm is a cancerous tumor that can invade and destroy nearby tissue and spread to other parts of the body.

Dividing Cells

The process in which cells undergo mitosis or meiosis to produce two or more daughter cells, essential for growth, development, and tissue repair.