Question: Would really appreciate a quick answer (within 10 mins) Problem 4. (B points) Pamaining time: 05:31 (min:soc) Insurance Premiums - Mona is interested in the

Would really appreciate a quick answer (within 10 mins)

Would really appreciate a quick answer (within 10Would really appreciate a quick answer (within 10

Problem 4. (B points) Pamaining time: 05:31 (min:soc) Insurance Premiums - Mona is interested in the relationship between the amount insurance companies pay out for automobile collision claims and what they charge their customers in insurance prerriuris. Using data from 2014. she selects a random sample of 20 US states. For each state, she calculates the losses incurred by insurance companies per insured driver (Losses) and the average insurance preniurn for drivers (Premiums). The scatter plat and a summary of the data is given below. The corelation between Losses and Premiumns was found to be r=0.6454. Round all calculated answers to 4 decimal places, Automobile Insurance 900 1000 1100 1200 100 120 140 '60 180 Losses per insured drivers Variables Losses Premiums Mean 138.043 903.3675 Samplo SD 20.2996 191.6796 1. The relationship between Losses and Premiums is best described as ??? and ??? + 2 Calculate the slope and intercept for the linear regression equation that predicts Premiums from Losses. Note: Do not use rounded values for intermediate calculations! Slope: and intercept: 3. What is the R for this study's linear regression model of Premiums from Losses? 4. Lise is evaluating Mone's work and discovers that her home state was not included in Mona's sample. Lise calculates the losses per insured driver for her state to be $264.22. Is it appropriate for Lisa to use Mona's regression eqi Romaining time: 65:10 (min:sec) premium for her state? 777 # because A Mona's model is only valid for the states she used create the model B. Lisa's value for Losses is not within the range of the data Mong used to create the model. C. Rrxgression equations cannot be used to make predictions. D. Lisa's value for losses is within the range of the data Mona used to create the model 5. Lise also decides to examine the residuals for Mona's model to determine if the conditions for linear regression have been met. Which condition is Lisa checking with the following plot? Q-Q Plot Residuals 8 8 Theoretical Quantiles A. Lisais checking to see if the data show a linear trend. B. Lisa is checking to see if the residuals are nearly normal. C. Lisa is checking to see if the variability of paints around the least squares line is roughly constant Problem 4. (B points) Pamaining time: 05:31 (min:soc) Insurance Premiums - Mona is interested in the relationship between the amount insurance companies pay out for automobile collision claims and what they charge their customers in insurance prerriuris. Using data from 2014. she selects a random sample of 20 US states. For each state, she calculates the losses incurred by insurance companies per insured driver (Losses) and the average insurance preniurn for drivers (Premiums). The scatter plat and a summary of the data is given below. The corelation between Losses and Premiumns was found to be r=0.6454. Round all calculated answers to 4 decimal places, Automobile Insurance 900 1000 1100 1200 100 120 140 '60 180 Losses per insured drivers Variables Losses Premiums Mean 138.043 903.3675 Samplo SD 20.2996 191.6796 1. The relationship between Losses and Premiums is best described as ??? and ??? + 2 Calculate the slope and intercept for the linear regression equation that predicts Premiums from Losses. Note: Do not use rounded values for intermediate calculations! Slope: and intercept: 3. What is the R for this study's linear regression model of Premiums from Losses? 4. Lise is evaluating Mone's work and discovers that her home state was not included in Mona's sample. Lise calculates the losses per insured driver for her state to be $264.22. Is it appropriate for Lisa to use Mona's regression eqi Romaining time: 65:10 (min:sec) premium for her state? 777 # because A Mona's model is only valid for the states she used create the model B. Lisa's value for Losses is not within the range of the data Mong used to create the model. C. Rrxgression equations cannot be used to make predictions. D. Lisa's value for losses is within the range of the data Mona used to create the model 5. Lise also decides to examine the residuals for Mona's model to determine if the conditions for linear regression have been met. Which condition is Lisa checking with the following plot? Q-Q Plot Residuals 8 8 Theoretical Quantiles A. Lisais checking to see if the data show a linear trend. B. Lisa is checking to see if the residuals are nearly normal. C. Lisa is checking to see if the variability of paints around the least squares line is roughly constant

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