Question

What is the relationship between being a smoker (s) and health care insurance premium (p) if the slope of a best-fit line modeling this relationship is greater than zero?

Answer #1

Given that the slope of the best fit line modeling the relationship is greater than 0

i.e. Slope > 0, this means that the slope is positive

we know that when the slope is positive, this means that increase in independent variable will show increase in the dependent variable

therefore, we can say that the increase in level of smoking, i.e. the level of being a smoker is directly proportional to the health care insurance premium.

This shows increase in smoking will lead to higher health care insurance premiums

Given a set S, what is the relationship between |S| and
|P(S)|?

The mean annual premium for automobile insurance in the United
States is $1,491. Being from Pennsylvania, you believe automobile
insurance is cheaper there and wish to develop statistical support
for your opinion. A sample of 25 automobile insurance policies from
the state of Pennsylvania showed a mean annual premium of $1,432
with a standard deviation of s = $150. If required, enter negative
values as negative numbers.
a. Develop a hypothesis test that can be used to determine
whether the...

The federal program of health insurance for the elderly and
some disabled individuals is called
Medicare
CHIP
Medicaid
VA
A way of making up losses in health insurance by charging more
to the insured is termed
The “Robin Hood” theory
Co-Payment
A Premium
Cost Shifting
An example of Cost Sharing would be
Package Pricing
A Beneficiary
A Co-Payment
A Single Payer System
The Affordable Care Act will have an impact on what portion of
a select groups (high earners) pay...

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
70,000
80,000
80,000
90,000
100,000
100,000
110,000
110,000
120,000
130,000
Sales ($)
432,000
478,000
484,000
552,000
605,000
594,000
688,000
674,000
713,000
784,000
What is the slope of the "least-squares" best-fit
regression line?
Please round your answer to the nearest hundredth.

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 dollars).
Driving Experience(years) 5 2 12 9 15 6 25 16
Monthly Premium(dollars) 64 87 50 71 44 56 42 60
Answer the following questions.
(a) Does the insurance premium depend on driving experience or does
the driving experience depend on
insurance premium? Do you...

Consider the following sample data for the relationship between
advertising budget and sales for Product A:
Observation
1
2
3
4
5
6
7
8
9
10
Advertising ($)
40000
50000
50000
60000
70000
70000
80000
80000
90000
100000
Sales ($)
239000
315000
311000
363000
432000
493000
438000
493000
535000
603000
What is the slope of the "least-squares" best-fit regression
line? Please round your answer to the nearest hundredth. Note that
the correct answer will be evaluated based on the...

For a sample of 116 college students, the relationship between
the reported hours of sleep during the previous 24 hours and the
reported hours of study during the same period was studied. Data
for y = hours of sleep the previous day and x =
hours of studying the previous day for n = 116 college
students were computed. Some regression results for those data are
shown in the following table.
Regression output
Predictor
Coef
SE Coef
T
P
Constant...

In the model with uncertainty, suppose we have
s=b and z=zH
what will be the relationship between expected consumption and
actual consumption?
Question 12 options:
the relationship is unclear - we need more information about
preferences.
expected consumption will be less than actual consumption.
expected consumption will be greater than actual
consumption.
they will be equal.

The following data is used to study the relationship between
miles traveled and ticket price for a commercial airline:
Distance in miles:
300 400
450 500
550 600
800 1000
Price charged in $:
140 220
230 250
255 288
350 480
SUMMARY OUTPUT
Regression Statistics
Multiple R
0.987
R Square
0.975
Adjusted R Square
0.971
Standard Error
17.352
Observations
8
ANOVA
df
SS
MS
F
Significance F
Regression
1
70291.3
70291.3
233.4
4.96363E-06
Residual
6
1806.6
301.1
Total...

2. You perform an analysis of variance to determine
whether the slope of your best fit line is different from zero, and
calculate an F-ratio of 12.6–you measured 24 randomly sampled
individuals from your population of interest.
(a) What are the degrees of freedom for the
regression?
(b) What are the degrees of freedom for the
residuals?
(c) If the critical value is 4.3, is your P-value
greater or less than alpha?
(d) Do you reject or fail to reject...

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