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Q2. A random sample of 6 drivers insured with a company and having similar auto insurance policies was selected. The following table lists their number
Q2. A random sample of 6 drivers insured with a company and having similar auto insurance policies was selected. The following table lists their number of driving violations (in past two years) and monthly auto insurance premiums. Number of Driving Violations # 2 4 3 5 Monthly Insurance Premium ($) 24 40 18 33 55 (Note: * indicates the 5th digit; and ** indicates the 5th & 6th digits of your ID) (a) Find the estimated least squares regression line. (b) Interpret the estimated intercept value. (c) Calculate the coefficient of determination (r2) and interpret the result. (d) Test the regression coefficient with six necessary steps mentioning appropriate hypothesis at the 5% significance level. Red Star/ single star value is 5 blue star/ double star value is 55
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