Instruction 13 -Referring to Instruction 13

question 174

Short Answer

Instruction 13.7
You worked as an intern at We Always Win Car Insurance Company last summer. You notice that individual car insurance premium depends very much on the age of the individual, the number of traffic tickets received by the individual and the population density of the city in which the individual lives. You performed a regression analysis in Microsoft Excel and obtained the following information:
$\begin{array}{|l|l|l|l|l|l|l|}\hline \text {Regression}&\text {Analysis }\\\hline \text { MultipleR } &\quad & 0.63 \\\hline \text { R Square } && 0.40 \\\hline \text { Adj. R Square } && 0.23 \\\hline \text { Standard } & \\\text { Error } & & 50.00\\\hline \text { Observations } & & 15.00 \\\hline & & & & & \\\hline \text { ANOVA } &\\\hline & \text { df}& \text { SS } & \text { MS } & F & \text { Signif F } \\\hline \text { Regression } & 3 & & 5994.24 & 2.40 & 0.12 \\\hline \text { Residual } & 11 & 27496.82 & & & \\\hline \text { Total } & & 45479.54 & & & \\\hline & & & & & \\\hline& \text { Coeff } & \text { StdError } & \text { t Stat } & \text { p-value } & \text { Lower 99.0\%}&\text { Upper 99.0\% } \\\hline \text { Intercept } & 123.80 & 48.71 & 2.54 & 0.03 & -27.47 & 275.07 \\\hline \text { AGE } & 0.82 & 0.87 & -0.95 & 0.36 & -3.51 & 1.87 \\\hline \text { TICKETS } & 11.25 & 10.66 & 1.99 & 0.07 & -11.86 & 54.37 \\\hline \text { DENSITY } & -3.14 & 6.46 & -0.49 & 0.64 & -23.19 & 16.91\\\hline\end{array}$
-Referring to Instruction 13.7,the estimated mean change in insurance premiums for every two additional tickets received is ___________.

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Definitions:

Powerlessness

The lack of ability, strength, or capacity to influence, change, or control circumstances, often leading to a sense of vulnerability or dependency.

Skilled White Laborers

Refers to white workers in the 19th and early 20th centuries who possessed specific skills and crafts, distinguishing them from unskilled laborers.

Free Blacks

is a term for African Americans who were not enslaved, living in the United States either before the Civil War in both the North and South or in areas of the South where slavery was less prevalent.

Legally Free

A status wherein an individual or entity is not under any legal bondage or constraint, enjoying full legal rights and freedoms.