 # Statistics Questions

Subject Mathematics Applied Statistics

## Question

An automobile insurance company collected 24 months of data to develop a regression model to predict collision claims as a function of the percentage of drivers under age 30 and average temperature. Use the data in the table below to perform the analysis.

a) Describe the relationships between the independent and dependent variables suggested by the scatterplots.
b) Write the equation for this multiple regression model.
c) Formally test the global usefulness of the model using alpha = .05. Interpret the result in practical terms.
d) Test the temperature coefficient using alpha = .05.   Interpret the result in practical terms.
f) Perform residual analysis to check the regression assumptions.
g) Predict, with 95% confidence, the collision claim amount for a month with an average temperature of 29°F and with 60% of claims by drivers under age 30.

Collision Claim (\$), Pct Under 30 (%) & Temp (°F)

116250 50 31.5
217180 60.8 33
43436 45.1 45
159265 56.4 53.9
130308 53.3 63.9
72393 46.9 74.5
174740 57.8 79.4
101351 50.6 75.3
144787 55 68.7
28957 35.8 53.7
173744 57.9 47.6
86872 49.9 38.4
108420 51 28.7
203288 62.9 34.4
40658 45.1 43.9
149078 55.2 51.1
121973 53.7 63.4
67763 47.2 73
163130 56.1 80.5
94858 48.3 79.8
135525 54.7 68
27105 45.4 52.6
162631 56.5 48.9
81315 47.7 35.5

## Solution Preview

This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden. This is only a preview of the solution. Please use the purchase button to see the entire solution

## Related Homework Solutions

Applied Statistics \$25.00
Mathematics
Statistics
SIDS
Mean
Alternative Hypothesis
Level of Significance
Standard Deviation
Birth Weights
Two-Sided Test
Critical Appraisal of The Research Paper \$20.00
Research Paper
Statistics
Evidence
Treatment
Condition
Supporting The Claim
Studies
Arguments
Experiments
Data Samples
Analysis
Clinical Traits
New Medicine
Descriptive Statistics \$13.00
Mathematics
Statistics
Measure Volume
Mass
Samples
Data
Standard Deviation
Density
Percentage Error
Experimental Value
Accepted Value
Statistics Questions \$18.00
Mathematics
Statistics
Tables
Functions
Association
Scatter Plot
Postal Service
Charges
Linear Model
Slope
Customers
Negative Residual
Positive Residual
Applied Statistics Questions \$18.00
Applied Statistics
Probability
Expected Value
Binomial Distribution
Random Sample
Statistics Questions: Families of Distributions \$44.00
Statistics
Mathematics
Probability
Binomial Distribution
Variance
Mean
Exponential Distribution
Density
Poisson Distribution
Gamma Distribution
Variables
Calculations
Live Chats