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• ### Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the...

Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire damage, in thousands of dollars (%). The MegaStat output is reported here: df ANOVA...

• ### Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the...

Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire damage, in thousands of dollars (). The MegaStat output is reported here: ANOVA table...

• ### Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in...

Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning house and the nearest fire station. This information will be used in setting rates for insurance coverage. For a sample of 30 claims for the last year, the director of the actuarial department determined the distance from the fire station (x) and the amount of fire damage, in thousands of dollars (). The MegaStat output is reported below ANOVA table...

• ### 2.   Suppose a fire insurance company wants to relate the amount of fire damage in major...

2.   Suppose a fire insurance company wants to relate the amount of fire damage in major residential fires to the distance between the burning house and the nearest fire station. A random sample of 15 fires in a large suburb is selected. The amount of damage (thousands of dollars) and the distance (miles) between the fire and the nearest fire station are recorded for each fire. The following simple linear regression model was used: Fire Damagei=B0+B1(Distance from Fire Station)i+Ei Coefficients...

• ### A fire insurance company wants to see if the amount of fire damage (y) in major...

A fire insurance company wants to see if the amount of fire damage (y) in major residential fires is related to the distance between the residence and the nearest fire station (x). The study is to be conducted in a large suburb of a major city, a sample of 15 recent fires in this suburb is selected. The 15 values and the printout follow: A) State the Null and Alternative Hypotheses. In Excel B) Construct a scatter diagram for the...

• ### The owner of Maumee Motors wants to study the relationship between the age of a car...

The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price Listed below is a random sample of 12 used cars sold at Maumee Motors during the last year. Selling Price (5 Car Age (years) thousands) Selling Price Car Age (years) (5 thousands) 1 13 \$9.0 7 2 14 5.1 8 5 9 8.1 9 12 14 3.1 10 5 8.2 8.5 11 12 12 2 4.5 8 \$9.1 3 4...

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The owner of Maumee Motors wants to study the relationship between the age of a car and its selling price. Listed below is a random sample of 12 used cars sold at Maumee Motors during the last year: Car Age (years) Selling Price (\$ thousands) Car Age (years) Selling Price (\$ thousands) 1 5 \$3.2 7 5 \$6.2 2 5 6.7 8 4 7.5 3 6 5.4 9 2 7.1 4 14 5.6 10 15 8.2 5 10 3.6 11...

• ### What is the relationship between the amount of time statistics students study per week and their...

What is the relationship between the amount of time statistics students study per week and their final exam scores? The results of the survey are shown below. Time Score 3 10 15 512 015 58 75 89 89 77 79 54 96 a. Find the correlation coefficient: r = Round to 2 decimal places. b. The null and alternative hypotheses for correlation are: Ho: ? - 0 H: 70 (Round to four The p-value is: decimal places) c. Use a...

• ### What is the relationship between the amount of time statistics students study per week and their...

What is the relationship between the amount of time statistics students study per week and their test scores? The results of the survey are shown below. Time 16 14 15 6 14 15 6 Score 100 89 100 68 99 100 78 x-values   y-values Find the correlation coefficient: r=r=    Round to 2 decimal places. The null and alternative hypotheses for correlation are: H0:H0: ? ρ r μ  == 0 H1:H1: ? μ r ρ   ≠≠ 0 The p-value is:    (Round to four decimal...

• ### A grocery store manager did a study to look at the relationship between the amount of...

A grocery store manager did a study to look at the relationship between the amount of time (in minutes) customers spend in the store and the amount of money in dollars) they spend. The results of the survey are shown below. Time Money 12 49 24 115 6 23 28 100 6 25 14 46 15 76 a. Find the correlation coefficient: r = Round to 2 decimal places. b. The null and alternative hypotheses for correlation are: H: ?...