1. Before looking at the data, use intuition to describe each variable's probable predictive power and direction of relationship with CLAIMS. 2. Calculate and analyze the correlation matrix. Explain some of the more significant correlations between the independent variables and CLAIMS, as well as between the independent variables themselves. 3. Perform a comprehensive regression analysis for CLAIMS. This includes calculation and analysis of graphs, p-values, coefficients of determination (R?), etc. 4. Identify the model that you feel best predicts CLAIMS. Justify the selection of this model from both conceptual and statistical viewpoints. This includes a verbal statement of the identified model that a "nonstatistician" could understand. 5. Is there a model that is almost as good as your first choice? If so, describe it.Variable Name Description of Variable CLAIMS The number of workers' compensation injury claims. MALE The proportion of the work force that is male. SAFETY The dollar amount of expenditures on safety programs in thousands. SALES The dollar amount of gross sales in millions. PARTTM The proportion of the work force that is part-time. EMPLOYS The number of employees in thousands.