Instruction 13-8
You Worked as an Intern at We Always

question 193

Short Answer

Instruction 13-8
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:
$\begin{array}{l}\text { Regression Analysis }\\\begin{array}{lr}\hline {\text { Regression Statistics }} \\\hline \text { Multiple R } & 0.63 \\\text { R Square } & 0.40 \\\text { Adjusted R Square } & 0.23 \\\text { Standard Error } & 50.00 \\\text { Observations } & 15.00 \\\hline\end{array}\end{array}$
ANOVA
$\begin{array}{lrrrrrr}\hline & d f & & S S & M S & F & \text { Significance } F \\\hline \text { Regression } & 3 & & 5994.24 & 2.40 & 0.12 \\\text { Residual } & 11 & 27496.82 & & & \\\text { Total } & & & 45479.54 & & & \\\hline\end{array}$

$\begin{array}{lrrrrrrr}\hline & \text { Coefficients } & \begin{array}{c}\text { Standard } \\\text { Error }\end{array} & t \text { Stat } & P \text {-value } & \text { Lower 99.0\% } & \text { Upper 99.0\% } \\\hline \text { Intercept } & 123.80 & 48.71 & 2.54 & 0.03 & -27.47 & 275.07 \\\text { AGE } & -0.82 & 0.87 & -0.95 & 0.36 & -3.51 & 1.87 \\\text { TICKETS } & 21.25 & 10.66 & 1.99 & 0.07 & -11.86 & 54.37 \\\text { DENSITY } & -3.14 & 6.46 & -0.49 & 0.64 & -23.19 & 16.91 \\\hline\end{array}$
-Referring to Instruction 13-8,the regression sum of squares that is missing in the ANOVA table should be ________.

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Definitions:

Personal Property

Movable items belonging to an individual or entity, as opposed to real estate or real property, including vehicles, furniture, and personal belongings.

Code

Code refers to a systematic collection, compilation, or body of laws, rules, or regulations.

Cisg

The United Nations Convention on Contracts for the International Sale of Goods, a set of rules aimed to facilitate international trade by creating uniform legal norms.

Writing

The process of using symbols (letters of the alphabet, punctuation and spaces) to communicate thoughts or ideas in a readable form.