A researcher took a sample of 10 years and found the following relationship between x and y,
Question:
ŷ = 342.6 + 2.10x
a. A randomly selected year had 24 major calamities. What are the expected average profits of U.S. insurance companies for that year?
b. Suppose the number of major calamities was the same for each of 3 years. Do you expect the average profits for all U.S. insurance companies to be the same for each of these 3 years? Explain.
c. Is the relationship between x and y exact or nonexact?
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