SCENARIO 14-10 You Worked as an Intern at We Always$\text { ANOVA }$

The Answer of SCENARIO 14-10 You Worked as an Intern at We Always$\text { ANOVA }$

SCENARIO 14-10 You Worked as an Intern at We Always$\text { ANOVA }$

The Answer of SCENARIO 14-10 You Worked as an Intern at We Always$\text { ANOVA }$

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SCENARIO 14-10
You Worked as an Intern at We Always

question 204

Short Answer

SCENARIO 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 and the number of
traffic tickets received by the individual. You performed a regression analysis in EXCEL and
obtained the following partial information: $\begin{array}{l}\hline{ \text { Regression } \text { Statistics } } \\\hline \text { Multiple R } & 0.8546 \\\text { R Square } & 0.7303 \\\text { Adjusted R Square } & 0.6853 \\\text { Standard Error } & 226.7502 \\\text { Observations } & 15 \\\hline\end{array}$

$\text { ANOVA }$
$SCENARIO 14-10 You worked as an intern at We Always Win Car Insurance Company last summer. You notice that individual car insurance premiums depend very much on the age of the individual and the number of traffic tickets received by the individual. You performed a regression analysis in EXCEL and obtained the following partial information: \begin{array}{l} \hline{ \text { Regression } \text { Statistics } } \\ \hline \text { Multiple R } & 0.8546 \\ \text { R Square } & 0.7303 \\ \text { Adjusted R Square } & 0.6853 \\ \text { Standard Error } & 226.7502 \\ \text { Observations } & 15 \\ \hline \end{array} \text { ANOVA } \begin{array} { l r r r r r r } \hline & \text { Coefficients } & \text { Standard Error } & { \text { tStat } } & \text { P-value } & \text { Lower 99\% } & \text { Upper 99\% } \\ \hline \text { Intercept } & 821.2617 & 161.9391 & 5.0714 & 0.0003 & 326.6124 & 1315.9111 \\ \text { Age } & - 1.4061 & 2.5988 & - 0.5411 & 0.5984 & - 9.3444 & 6.5321 \\ \text { Tickets } & 243.4401 & 43.2470 & 5.6291 & 0.0001 & 111.3406 & 375.5396 \\ \hline \end{array} -Referring to Scenario 14-10, to test the significance of the multiple regression model, what is the form of the null hypothesis? a) H _ { 0 } : \beta _ { 1 } = 0 b) H _ { 0 } : \beta _ { 2 } = 0 c) H _ { 0 } : \beta _ { 1 } = \beta _ { 2 } = 0 d) H _ { 0 } : \beta _ { 0 } = \beta _ { 1 } = \beta _ { 2 } = 0$

$\begin{array} { l r r r r r r } \hline & \text { Coefficients } & \text { Standard Error } & { \text { tStat } } & \text { P-value } & \text { Lower 99\% } & \text { Upper 99\% } \\\hline \text { Intercept } & 821.2617 & 161.9391 & 5.0714 & 0.0003 & 326.6124 & 1315.9111 \\\text { Age } & - 1.4061 & 2.5988 & - 0.5411 & 0.5984 & - 9.3444 & 6.5321 \\\text { Tickets } & 243.4401 & 43.2470 & 5.6291 & 0.0001 & 111.3406 & 375.5396 \\\hline\end{array}$
-Referring to Scenario 14-10, 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) $H _ { 0 } : \beta _ { 0 } = \beta _ { 1 } = \beta _ { 2 } = 0$

Definitions:

Bandura's Theory

A psychological framework developed by Albert Bandura that emphasizes the importance of observation, imitation, and modeling in learning.

Peak Experiences

Intense moments of self-fulfillment and happiness where one feels a sense of wholeness and satisfaction.

Peak Performance

Achieving the highest level of performance capability of an individual or group, often under specified conditions.

Flow

A state of intense focus and immersion in activities, where individuals lose sense of time and self, often leading to high levels of productivity and creativity.