An actuary thinks there is a linear relationship between


An actuary thinks there is a linear relationship between age and driving tickets in a five-year span. The following table contains data from a sample of 12 persons. Use this data to answer questions 4-6.

Age (x)

  1. 28
  2. 57
  3. 29
  4. 59
  5. 54
  6. 29
  7. 20
  8. 33
  9. 40
  10. 39

Tickets (y)

  1. 3
  2. 1
  3. 2
  4. 2
  5. 2
  6. 3
  7. 4
  8. 4
  9. 5
  10. 3

1. Calculate and Interpret the pearson's correlation coefficient between the variables X and Y, , and the coefficient of determination between the variables X and Y,.

2. Determine the coefficients of the least squares regression line for the following model between age and tickets in a 5-yr span:

Use the least-squares regression line to predict the expected number of tickets in 5-yr span for a person who is 30 years old, . Note:

Solution Preview :

Prepared by a verified Expert
Basic Statistics: An actuary thinks there is a linear relationship between
Reference No:- TGS02556289

Now Priced at $20 (50% Discount)

Recommended (97%)

Rated (4.9/5)