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Briefly explain how an analyst should interpret the r2 value in a regression analysis.
Insurance Premiums
Payments made to insurance companies to provide coverage and protect against various risks or damages.
No-fault Insurance
An insurance policy where policyholders are compensated by their own insurance company, regardless of who is at fault in an accident.
Collision Deductible
A collision deductible is the amount of money a policyholder must pay out-of-pocket for vehicle repairs before their insurance coverage pays for the remaining costs in case of a collision.
Annual Premium
The total amount paid per year for an insurance policy to remain valid and provide coverage.
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