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A random sample of eight drivers was taken and measured the years of driving and their monthly insurance premium amount. Perform a hypothesis test to
- A random sample of eight drivers was taken and measured the years of driving and their monthly insurance premium amount.
Perform a hypothesis test to see if there is a relation between years driving and insurance premium.
Please use the following Excel print-outs to answer the questions.
Excel Print-outs found below:
| SUMMARY OUTPUT | |
| Regression Statistics | |
| Multiple R | 0.5897 |
| R Square | 0.7679 |
| Adjusted R Square | 0.5213 |
| Observations | 8 |
| Coefficients | Standard Error | t Stat | P-value | |
| Intercept | 76.66 | 6.961 | 11.012 | 0.0000333 |
| X Variable | -1.548 | 0.527 | -2.937 | 0.00498 |
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An Elementary Introduction To Mathematical Finance
Authors: Sheldon M Ross
3rd Edition
1139065106, 9781139065108
