Kizspy | Question: 87
(Choose 1 answer)
(See picture)
A. 73.03%
B. 85.46%
C. 68.53%
D. 15.00%
E. None of the other choices is correct
You worked as an intern at We Always Win Car Insurance Company last summer.
You notice that individual car insurance premiums depend very much on the age of
the individual and the number of traffic tickets received by the individual. You
performed a regression analysis in EXCEL and obtained the following partial
information:
Regression Statistics
Multiple R
0.8546
R Square
0.7303
Adjusted R Square
0.6853
Standard Error
226.7502
Observations
15
ANOVA
df
SS
Regression
Residual
2
MS
835284.6500 16.2457
F
Significance F
0.0004
12
Total
616987.8200
2287557.1200
Coefficients
Standard Error
t Stat
Intercept
Age
821.2617
-1.4061
Tickets
243.4401
161.9391
2.5988
43.2470
5.0714
-0.5411
P-value
0.0003
0.5984
Lower 99%
Upper 99%
1315.9111
6.5321
5.6291
0.0001
326.6124
-9.3444
111.3406 375.5396
The proportion of the total variability in insurance premiums that can be explained
by AGE and TICKETS is
