Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Given the dataset in Homework 3 The Declination of house insurance renewals (%), the Fire Reports (%), Crime Rate (%), House Age (years), Minority Population

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Given the dataset in Homework 3 The Declination of house insurance renewals (%), the Fire Reports (%), Crime Rate (%), House Age (years), Minority Population (%), and Income ($1000s). The table below shows the first 8 samples (houses) of the available data. MinorityPop FireReport CrimeRate HouseAge Income Declination 54 34.1 68 52.6 82 . 31 0.3 4.9 11 75 42.6 214. 8 0 . 02 7.1 6.9 18 78. 5 111 .04 0. 02 5.3 7.3 31 90. 1 106.94 0 . 4 21.5 15.1 25 89. 8 96.31 1.1 43.1 29.1 34 82. 7 79.95 1.9 1.1 2.2 14 40.2 137.22 0. 02 1 5.7 11 27.9 162.5 0 . 02 The insurance company is interested to predict the declination of renewals as a function of the remaining variables.Final Step: Residual Analysis and Validation of the WLS Assumptions Normality assumption: OO-plot for the residuals QQ Plot of Sample Data versus Standard Normal 1.5 Pr(-1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mechanics of Materials

Authors: Russell C. Hibbeler

10th edition

134319656, 978-0134319650

Students also viewed these Mathematics questions