Waterbury Insurance Company wants to shudy the relationship between the amount o

Question

Waterbury Insurance Company wants to shudy 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 dlaims for the last yeat, the director of the actuarial department determined the distance from the fire station (of and the amount of fire damage, in thousands of dollars O The MegaStat output is reported below esideal 1,315.4934 46.9819 1. Wite out the regression equation (Round your answers to 3 decimal places MacBook Pro B.

Explanation / Answer

From the above output we can write the regression equation as

y=a+bx

a is intercept

b is the coeffiecient of x

  Therefore from given output

a= 12.5514

b= 3.4646

the regression line is

Y = 12.551 + 3.465 X

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