Question
An insurance company is interested in determining whether there was a relationship between Y = amount insured (in thousands of dollars) and three variables
An insurance company is interested in determining whether there was a relationship between Y = amount insured (in thousands of dollars) and three variables that they believe influenced the amount of insurance that the individual purchased. These variables are: X = age of the person who is being insured. X2 = The income of the person who is being insured X3 = 1 if the person was healthy in terms of build and blood pressure = 0 otherwise. To study this further, they took a sample of 64 policies and obtained an R squared value of 0.25. Compute the F value for testing: Ho: B =2 =3 =0 against H: at least one of the B 10 and state whether the results are statistically significant or not.
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Data Analysis And Decision Making
Authors: Christian Albright, Wayne Winston, Christopher Zappe
4th Edition
538476125, 978-0538476126
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