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Exercise 13-60 (Algo) (LO13-5) Waterbury Insurance Company wants to study the relationship between the amount of fire damage and the distance between the burning
Exercise 13-60 (Algo) (LO13-5) 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 (y) ANOVA table Source Regression df 1,035.5782 Residual 1,270.4934 28 1 MS 1,835.5782 40.45 45.3748 Total 3,106.0716 29 Regression output Standard Variables Coefficients Error t(df-28) Intercept 13.6904 3,0467 2.427 Distance-X 3.2931 0.5178 6.36 Click here for the Excel Data File a-1. Determine the regression equation. (Round your answers to 3 decimal places.)
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