Question: Refer to Example 6 7 In this example an insurance adjuster

Refer to Example 6.7. In this example, an insurance adjuster wanted to know the degree to which the two garages were in agreement on their estimates of automobile repairs. The data given below are the estimated costs from the two garages for repairing 15 cars.
a. Compute the correlation between the car repair estimates from the two ­garages.
b. Calculate a 95% confidence interval for the correlation coefficient.
c. Does the very large positive value for the correlation coefficient indicate that the two garages are providing nearly identical estimates for the repairs? If not, explain why this statement is wrong.

Sale on SolutionInn
  • CreatedNovember 21, 2015
  • Files Included
Post your question