A random sample of eight auto drivers insured with a company and having similar auto insurance policies was selected. The following table lists their driving experience (in years) and the monthly auto insurance premium (in Sh.000) paid by them.
|
Driving experience (Years)
|
5
|
2
|
12
|
9
|
15
|
6
|
25
|
16
|
|
Monthly auto insurance premium (In Sh.000)
|
64
|
87
|
50
|
71
|
44
|
56
|
42
|
69
|
1) Find the least squares regression line by identifying the appropriate dependent and independent variable
3) Compute the coefficient of correlation and coefficient of determination and interpret them.